Allcargo Logistics hits 20% upper circuit as promoters propose to delist company
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Mumbai, Aug. 25 -- Shares of Allcargo Logistics were locked in the 20% upper circuit at Rs.130.8 on the BSE on Tuesday after its promoters Shashi Kiran Shetty and Talentos Entertainment Pvt Ltd proposed to voluntarily delist the company.
Mint reported on Monday that the members of the promoter group collectively hold 17.2 crore shares aggregating to 70.01% of the paid-up equity share capital of the company, while public shareholders hold 29.99%.
The company will hold a board meet on 27 August to consider the delisting proposal.
"In the Delisting Proposal Letter, Shashi Kiran Shetty and TEPL expressed their intention to, either individually/ collectively or together with other members of the Promoter Group, as the case may be, acquire a...
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