BackGateway Distriparks remodels shareholding structure
Prem Kishan Gupta, the chairman and managing director of Gateway Distriparks, has become chairman of Snowman Logistics Ltd, a group company
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Mumbai: Port-based logistics operator Gateway Distriparks Ltd has undergone significant changes in its shareholding pattern and board composition after the exit of Singapore-based investors.
Prem Kishan Gupta, the sole promoter, has become chairman of Snowman Logistics Ltd, a group company. Gupta is already chairman and managing director of Gateway Distriparks and Gateway Rail Ltd.
Snowman Logistics is a cold chain transportation company while Gateway Rail is container train operating firm.
Gupta, along with his wife and two sons—Ishaan Gupta and Samvid Gupta—and their 100% family holding company, owns over 25% of Gateway Distriparks.
Promoted by Newsprint Trading & Sales Corp., Windmill International Pvt. Ltd and Parameswara Holdings Ltd as an India-Singapore joint venture, Gateway Distriparks was set up in 1994 to undertake the business of warehousing, handling and clearing of container cargo at Navi Mumbai.
“Gateway Distriparks has always rewarded its shareholders through a mix of regular dividends and growth," Gupta said. “Going forward too, our endeavour will be to meet shareholders expectations on both the parameters—performance of the company and maintaining high standards of corporate governance."
Gateway Distriparks operates container freight stations in Nhava Sheva (near Jawaharlal Nehru Port Trust, Mumbai), Chennai, Vishakhapatnam and Kochi.
Gateway Rail Freight operates a fleet of 25 rakes and 265 trailers between Nhava Sheva, Mundra and Pipavav (both in Gujarat). It has inland container depots in Gurgaon, Faridabad, Ludhiana and a domestic terminal at Navi Mumbai.
Snowman provides temperature-controlled storage and distribution solutions across India and is also the largest firm in the industry with over 95,000 pallets of storage in 19 cities and a fleet of over 250 refrigerated vehicles.
Gateway Distriparks’ founder Gopinath Pillai had stepped down from his role as chairman after 19 years, even as the logistics company plans to enter into new businesses, including e-commerce and coastal shipping, Mint reported on 30 April.
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