Allcargo Logistics acquires 30% stake in Gati subsidiary

12 Jun 2023 CW Team

Allcargo Logistics announced that it had successfully acquired 150,000 shares, representing a 30 percent stake, in Gati-Kintetsu Express (GKEPL) for Rs 4 billion.

Gati, a subsidiary of Allcargo, already held a 70% stake in GKEPL, a prominent player in the express logistics industry in India.

Shashi Kiran Shetty, Founder and Chairman of Allcargo Group, mentioned that the share purchase would grant Allcargo Logistics, along with its subsidiary Gati, complete ownership and control over GKEPL, enabling them to make strategic decisions for the company.

He further added, "This acquisition will assist us in improving our service delivery capabilities, propelling us towards the next phase of growth. Moving forward, we anticipate stronger synergy between contract logistics and express distribution, solidifying our position in the domestic logistics sector."

The deal involved the acquisition of 130,000 shares (26%) from KWE-Kintetsu World Express (S) and 20,000 shares (4%) from KWE Kintetsu Express India, as stated by the company.

Yasuyuki Tani, the regional managing director of the Southeast Asia and Oceania region at KWE, expressed, "As a group, KWE, and specifically KWE India, have maintained an excellent relationship with Gati and Gati-Kintetsu over the past decade. This relationship will now transition into a more strategic partnership in domestic logistics operations within India."

Following the completion of this transaction, Allcargo, in collaboration with Gati, now possesses a 100 percent stake in GKEPL, assuming complete control. The company confirmed that this transaction aligns with the previously signed SPA (Share Purchase Agreement) between the parties in March 2023.

Also read:
Visakhapatnam District gears up for land pooling
K Raheja’s project sells Rs 1,100 cr properties in 90 days

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..