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Gateway Distriparks Ltd Right Issue subscribed 1.24 times

•      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.