Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

In yet another move to prop up PM Narendra Modi’s ‘Make in India’ and ‘digital India plan’, the leader of <keyword id="436047" type="UNKNOWN" weightage="20" keywordseo="Ecommerce">eCommerce</keyword> market, <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> tied-up with Gurgaon-based <keyword id="65018" type="COMPANY" weightage="20" keywordseo="Allcargo">Allcargo</keyword> Logistics' overseas subsidiary ECU Line. The alignment has been made to ship less-than-container load or LCL consignments to India. 
 A business enterprise of Avvashya Group, Allcargo, last year bought US-based <keyword id="1883207" type="UNKNOWN" weightage="20" keywordseo="Econocaribe-Consolidators">Econocaribe Consolidators</keyword> and became world's chief player in LCL sector. Allcargo’s plan to enter into eCommerce market became a major reason of the tie-up. 
 
LCL refers to cargo that isn't enough to fill a standard cargo container and is grouped with other consignments bound for the same destination. The pact between Alibaba and Allcargo would ensure faster delivery of small consignments as orders would be clubbed with other ones and won’t wait for one container to be filled up. 
 
With LCL getting boom into eCommerce sector, the $1 billion industry is looking forward to grow as much as $32 billion by 2020, said retail advisory Technopak. 
 Allcargo's founder and Chairman <keyword id="133411" type="PERSON" weightage="20" keywordseo="Shashi-Kiran-Shetty">Shashi Kiran Shetty</keyword>, in an interview with ET, said, "We have tie-ups with suppliers. So we pick it up, put it in containers and deliver in your house.” Talking about the company’s further plans Shetty said, “Allcargo plans to get into the ecommerce segment in a year's time and may look at acquisitions in the sector. We have transportation capabilities. They can easily manage and run all small and big trucks. We have an air freight division... a global network of freight forwarders. We have land banks which we can use to set up fulfilment centres.”

Alibaba gets Gurgaon-based company on eCommerce, ties up with Allcargo Logistics

The Board of <keyword id="747347" type="General" weightage="20" keywordseo="allcargo-logistics" source="Orion">Allcargo Logistics</keyword> on Thursday approved the demerger of its CFS/ICD and real estate businesses, aimed at creating strategic business undertakings to drive growth across distinct opportunities. Under the proposed scheme of demerger, equipment rental and real estate businesses will move to TransIndia and CFS/ICD (container freight stations/inland container depot) business into <keyword id="12804384" type="General" weightage="20" keywordseo="allcargo-terminals" source="Orion">Allcargo Terminals</keyword> Limited, it said. Besides, as part of the demerger, all three companies will have mirror shareholding, resulting in no change in the entitlement of shareholders for each entity, <keyword id="65018" type="General" weightage="20" keywordseo="allcargo" source="Orion">Allcargo</keyword> said. After the demerger, shareholders will get 1 share each of Allcargo Terminals and <keyword id="12804385" type="General" weightage="20" keywordseo="transindia-realty" source="Orion">TransIndia Realty</keyword> &amp; Logistics Parks for every 1 share held of Allcargo Logistics, it said, adding the 1:1 ratio will avoid fractional allotment and benefit all shareholders. <div type="image" title="allcargo logistics" height="900" width="1200" msid="88470637" hostid="261"></div> The Board of Directors of Allcargo Logistics Ltd, at its meeting held on Thursday, approved the demerger of CFS/ICD business into Allcargo Terminals Limited and demerger of equipment rental, logistics parks and other real estate assets into TransIndia Realty &amp; Logistics Parks Limited (TransIndia), the company said. "The company takes pride in its heritage and leadership, which have led to sustained growth in the long term. "Now, we have business units, which have achieved the right scale and seek independence to drive the next phase of growth. The (demerger) scheme will facilitate strategic growth in demerged businesses and make the company stronger," said Shashi Kiran Shetty, Chairman, Allcargo Logistics, ECU Worldwide and Gati Ltd. The company has grown at 15-20 per cent CAGR on both revenue and EBITDA over the last 15 years, and this demerger will set the foundation for the next phase of growth by providing independence to businesses, he added. The strategic move will position the company to accelerate growth across businesses by creating independent business undertakings, with sharper management focus, better access to the right capital, and greater operational and financial flexibility, Allcargo said. At the same time, Allcargo Logistics will continue to be the leader in the international supply chain, express logistics and contract logistics businesses with an increased focus on digitisation, the company said. The resulting company Allcargo Terminals will be the market leader in the CFS business in India and continue to expand its footprint in ICDs, the company said in a release. Five out of seven facilities of Allcargo are already on lease and the new resulting structure will make all seven CFS/ICDs completely asset-light, positioning the company strongly to drive growth with a high return on capital employed, it added. By moving the equipment rental and real estate businesses to TransIndia, it will create a unique portfolio of best in class grade A-warehouses and other assets leased to marquee clients, it claimed. The business will also hold the shares in the JV with Blackstone, it said, adding post demerger, the business would have an opportunity to attract the right pools of capital as grade A warehousing is in very strong demand, and capabilities of TransIndia will provide opportunities for robust growth. A part of Avvashya Group, Allcargo Logistics Limited is a global leader in multimodal logistics solutions with Allcargo Belgium NV, operating ECU Worldwide network, a global market leader in ocean freight consolidation. Domestically, Allcargo is the market leader in the container freight station business and is among the leaders in express logistics through subsidiary Gati Ltd, besides having a strong presence in contract logistics and other businesses. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-data-patterns-list-at-864-while-the-shares-were-allotted-at-585per-share/articleshow/88467078.cms">Data Patterns beats GMP and lists at 40% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/5-chinese-1-indian-company-lost-their-unicorn-status-hurun-global-unicorn-list-2021/slidelist/88448999.cms">Nine companies lost unicorn status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/no-india-crypto-bill-in-sight-even-after-winter-session-of-parliament-comes-to-a-close/articleshow/88449161.cms">India ends Winter Session of Parliament with no crypto bill in sight</a>

Allcargo shareholders will get 1 share each in two newly spun out companies

New Delhi, Jul 3 () The demand for warehousing and industrial spaces will be adversely affected this year due to the COVID-19 pandemic, but the sector has bright prospects in the medium-to-long term driving on the growth of the e-commerce sector, according to experts. The government should prepare a national policy for industrialisation and ease land acquisition process to make India a manufacturing base and attract companies that want to shift operation out of China, they said at a webinar on the warehousing sector. Niranjan Hiranandani, co-founder and managing director of Hiranandani Group, said there are huge development potential in the warehousing, industrial parks and data centre projects. About making India a manufacturing hub, he said, "Intention is there. Hopefully action will be there." Hiranandani, who is also president of Assocham and Naredco, said a lot of policy measures are needed to push manufacturing activities in India. He even suggested that the government should send a team to Vietnam for studying how it has been able to attract companies for setting up factories. The webinar 'Bridging the Middle- transforming warehousing Industry in India' was organised by Knight Frank and Reed Exhibitions India. Rajesh Jaggi, vice-chairman (real estate) of Everstone Group, said this year could be a complete "washout" for the warehousing sector due to challenges posed by the coronavirus pandemic in both demand and supply sides. Jaggi is managing partner of Everstone-backed IndoSpace, which is into the warehousing and industrial space segment. "I am not at all bullish for the short-term perspective," he said, but added that medium-to-long-term growth prospects remained intact for both industrial space and warehousing. Post-COVID-19, Jaggi said there would be a thrust on e-commerce. "If India plays it right, we have a huge scope on industrialisation," he said. Jaggi advocated a pan-India manufacturing policy and a consolidated effort from both the central and state governments. "If we do not have a national policy on industrialisation, we are going to miss this opportunity," he said. Jaggi said the company would continue to invest in this sector and has not changed the expansion plan. To boost the manufacturing sector in India, All Cargo Logistics Chairman Shashi Kiran Shetty suggested that the government should revive special economic zones (SEZs) where both factories and warehousing can co-exist. He said the government's industrial development authorities and Railways have huge land bank that could be utilised for development purpose. "We need to move fast, else will miss a golden opportunity," Shetty said. Shishir Baijal, chairman and managing director of Knight Frank India, said the warehousing segment has been least impacted and will also recover quickly compared to other asset classes in the real estate space. On Thursday, Knight Frank India reported that the warehousing demand fell 11 per cent during the last fiscal year at 41.3 million sq ft across eight major cities due to economic slowdown. MJH HRS

Warehousing, industrial space demand to be hit this year due to COVID-19: Experts

Mumbai, Mar 4 () Allcargo Logistics on Wednesday said it has received markets regulator Sebi's approval to launch an open offer to acquire an additional 26 per cent equity stake in logistics firm Gati. On completion of the open offer, which was announced when the deal was inked in December 2019, Allcargo will emerge as the controlling stakeholder in Gati with a 46.83 per cent ownership, the company said in a statement. Allcargo is offering to acquire around 3.17 crore shares, constituting 26 per cent equity stake in Gati at Rs 75 apiece. If the open offer is successful, it will take Allcargo's stake in Gati to 46.83 per cent, the company added. Reacting to the development, Allcargo's shares on Wednesday gained nearly 1 per cent to Rs 110.40 apiece, while Gati's stock closed 0.75 per cent down at Rs 66.55 on the BSE. "This will mark the completion of the acquisition process which was initiated on December 5, 2019. The open offer is expected to be launched this month and to be closed by April," the company said. The statement further said Allcargo has already deposited Rs 238 crore, equivalent of 100 per cent of the capital required to fund the open offer, into an escrow account set under the relevant Sebi norms for the open offers. The company has already completed the preferential allotment and part purchase of promoter shares in January, following which two Allcargo directors have already been appointed on the Gati board. "The acquisition is in line with our long-term strategy to strengthen the domestic business and will further synergise our efforts to offer end-to-end services to our domestic and international customers," Allcargo founder and Chairman Shashi Kiran Shetty was quoted as saying in the statement. Shetty also said the acquisition will help Allcargo consolidate its position as an end-to-end logistics solutions provider, catapulting it into the market-leading position in the domestic express logistics segment. The deal will also help it leverage the express logistics business of Gati with Allcargo's logistics courier and parcel logistics business. "It will help us achieve sustainable growth as a leader in the logistics industry in the short, medium and long run, as this acquisition will help it offer single-window solutions through a combination of ECU Worldwide and Gati at a scale that otherwise does not exist now," Shetty said. Founded in 1989, Gati operates on an asset-light and hub-and-spoke model, and is now present in 727 districts and makes door-to-door express logistics delivery across 19,000 PIN codes across the country. The deal had hit a wall after the estranged wife and sons of Gati founder Mahendra Agarwal got an injunction from a local Hyderabad court against the sale and writing to the Sebi on the same. PSK BEN HRS

Allcargo gets Sebi nod to launch open offer for stakebuy in Gati

New Delhi, Dec 6 () Shares of Allcargo Logistics on Friday rose 3 per cent after the company said it will acquire around 44 per cent stake in Gati for nearly Rs 416 crore, marking its foray into the express logistics market.
The scrip gained 3.03 per cent to close at Rs 97 on the BSE. During the day, it jumped 5 per cent to Rs 98.90.
 At the NSE, it climbed 2.54 per cent to close at Rs 96.60.
 Shares of Gati, however, fell 4.62 per cent to close at Rs 62.95 on the BSE, while on the NSE, it declined 4.69 per cent to Rs 62.95.
Under the deal, Allcargo will first buy over 1.03 crore shares and subscribe to a preferential issue of over 1.33 crore shares (collectively 18 per cent shares) held by promoters and promoter group of Gati, including Mahendra Kumar Agarwal, Mahendra Investment Advisors and TCI Finance and also Gati, at Rs 75 a share.
 Allcargo will then make an open offer to buy another 3.17 crore shares, representing 26 per cent of the paid-up voting equity share capital (post-preferential issue and vesting of stock options) from the retail shareholders of Gati at Rs 75 a share, taking the total deal value to around Rs 416 crore, Chairman Shashi Kiran Shetty said.
 With Gati under its fold, Allcargo can offer a range of logistics services, including multimodal transport, container freight stations/inland container depots, projects and engineering solutions, warehousing, distribution, contract logistics and logistics parks. 


 
 SUM ANU
ANU

Allcargo Logistics stock rises 3 pc after Gati deal

New Delhi, Mar 18 () AllCargo Logistics has leased nearly 3 million sq ft warehousing space in Delhi-NCR, Bengaluru and Hyderabad to a large e-commerce player and a global sports goods retailer. Property consultant JLL India facilitated AllCargo Logistics, which is a part of Avvashya Group, in leasing about 3 million sq ft warehousing space. The deal will enable setting up of warehousing facilities for a large e-commerce retailer and a multi-national sports goods retailer. "The warehousing and logistics sector in the country continues to perform strongly. Riding on a maturity curve, the sector has been witnessing investments from developers and potential big occupier companies across sectors with a long-term view. The deal reflects the growing appetite of stakeholders looking at the sector with hope. This said, there is a need to develop more and more quality warehousing facilities in the country," said Ramesh Nair, CEO &amp; Country Head, JLL India. The company's developments across these cities are of highest standards and are able to meet the requirements of international as well as domestic companies operating at large scale, said Shashi Kiran Shetty, chairman of AllCargo Logistics. Overall warehouse leasing has increased to 36.4 million sq ft in 2019 from 31.8 million sq ft during 2018. Going forward, the absorption is expected to be strong in near to medium term primarily driven by Grade A spaces. The supply of Grade A warehouses have also increased to 22.5 million sq ft in the same period as against 18.6 million sq ft in the last year. The US-based JLL is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company with annual revenue of USD 16.3 billion, JLL operates in over 80 countries with a global workforce of more than 93,000. In India, JLL has presence across 10 major cities with a cumulative strength of close to 12,000 professionals. MJH SHWSHW

You Searched For "Shashi Kiran Shetty" and got 6 results

Alibaba gets Gurgaon-based company on eCommerce, ties up with Allcargo Logistics

BI India Bureau

Allcargo shareholders will get 1 share each in two newly spun out companies

PTI

Warehousing, industrial space demand to be hit this year due to COVID-19: Experts

PTI

Allcargo gets Sebi nod to launch open offer for stakebuy in Gati

PTI

Allcargo Logistics stock rises 3 pc after Gati deal

PTI

AllCargo Logistics gives on lease 3mn sq ft warehousing space to e-commerce firm, sports retailer

PTI

Popular Keywords

Buying Guides