Allcargo completes buyback

DSIJ Intelligence / 17 Jan 2017

Allcargo completes buyback

In a recent development, Allcargo Logistics has completed buyback of 64,00,000 equity shares (representing upto 2.54% of the total number of equity shares of the company) at a price of Rs 195 per equity share. 

In a recent development, Allcargo Logistics has completed buyback of 64,00,000 equity shares (representing upto 2.54% of the total number of equity shares of the company) at a price of Rs 195 per equity share. The amount, according to an official communique of the logistics major, is payable in cash for an aggregate amount of Rs 1,24,80,00,000, representing 9.17% of the fully paid-up equity share capital and free reserves.
 
It may be added here that Allcargo Logistics is a part of the Avvashya Group. The logistics company operates across 90 countries through its 200 branches.

The stock has underperformed the BSE mid-cap index and the Nifty service sector over a period of one year.

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