BackAllcargo plans to raise Rs300 cr for expansion
Allcargo plans to raise Rs300 cr for expansion
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Mumbai: Multimodal logistics company Allcargo Global Logistics Ltd will raise Rs300 crore by issuing equity shares or securities to fund expansion. The company has appointed merchant bankers CitiGroup, Collins Stewart Inga Pvt. Ltd and the investment banking arm of Kotak Mahindra Capital Co. to help it raise the funds. The investment bankers will shortly finalize the mode of equity instrument.
Meanwhile, Allcargo Global will acquire assets and liabilities of the projects and equipment division of equipment hiring company Transindia Freight Services Pvt. Ltd, an unlisted company owned by the promoter family of Allcargo Global.
Allcargo offers various modes of transportation to carry cargo including machines for big projects. The company also operates container freight stations in the country.
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