• The rights issue received 20038760 bids as against the issue size of 16107859
• The price per equity including premium was Rs 72 per share
The Rights Issue of Gateway Distriparks Ltd, the only logistics facilitator in the whole of India with three verticals which are synergetic and capable of being interlinked – Container Freight Stations (CFS), Inland Container Depots (ICD) with rail movement of containers to major maritime ports, and Cold Chain Storage and Logistics, has been subscribed over 1.24 times. The company launched the Rights Issue recently and was closed last evening with over 2,00,38,760 bids as against the issue size of 1,61,07,859, highest in recent times by any logistics companies. The price per equity for the Rights Issue was offered at Rs 72 per equity share (which also includes a premium of Rs. 62/- per rights equity share) for an amount aggregating up to Rs. 11,597.66 Lakhs on a Rights Basis to the existing eligible equity shareholders in the ratio of 4 Rights Equity Shares for every 27 fully paid up equity share(s) held by the equity shareholders on the record date, i.e. July 24, 2020.
The proceeds of the issue will be utilised for repayment of debt and the stocks will be listed on the exchanges on August 25, 2020.
ICICI Securities Ltd is the lead manager to the rights issue and Link Intime Private Limited, is the registrar to the issue.
About Gatweay Distriparks Limited (BSE Code: GDL | 532622 | INE852F01015)
Gateway Distriparks Limited is the only logistics facilitator in the whole of India with three verticals which are synergetic and capable of being interlinked – Container Freight Stations (CFS), Inland Container Depots (ICD) with rail movement of containers to major maritime ports, and Cold Chain Storage and Logistics. GDL operates two Container Freight Stations at Navi Mumbai, one at Chennai, one at Krishnapatnam, One at Kochi and one at Visakhapatanam with a total capacity of over 600,000 TEUs. These CFSs offer transportation & storage, general and bonded warehousing, empty handling and several value added services.
GDL’s rail operations are handled by a subsidiary, Gateway Rail Freight Limited (Gateway Rail). Gateway Rail provides inter-modal logistics and operates its own Inland Container Depots/Dry Ports. Gateway Rail operates rail linked facilities at Garhi-Harsaru (Gurugram, Haryana), Ludhiana (Punjab), Piyala (Faridabad, Haryana), Viramgam (Ahmedabad, Guajrat) and Kalamboli (Navi Mumbai). Gateway Rail owns and operates a fleet of 31 trains and 335+ road trailers at its rail linked terminals. Gateway Rail operates regular container train service from these ICDs/Dry Ports to the maritime ports at NhavaSheva, Mundra and Pipavav, transporting import and export as well as domestic containers. All major shipping lines operate from these Gateway Rail terminals for both export and import.