Board of Directors approved Allcargo Logistics Limited (BSE:532749) to spin off Allcargo Terminals Private Limited on December 23, 2021. Under the terms, each shareholder of Allcargo Logistics will get 1 share for every share of Allcargo Terminals. For the year ended March 31, 2021, Allcargo Terminals generated revenue of 4.6 billion. The transaction is proposed through a Scheme of Arrangement and Demerger and will be subject to requisite approvals of the National Company Law Tribunal, BSE Limited, National Stock Exchange of India Limited, Securities and Exchange Board of India and other statutory / regulatory authorities, including those from the shareholders and creditor of Allcargo Logistics and Allcargo Terminals. Hon?ble NCLT has sanctioned the Scheme of Demerger but Allcargo are awaiting the certified copy of the Order along with the sanctioned Scheme from the NCLT.. Transaction is expected to close by February/March 2023. April 18, 2023 has been fixed as the Record Date.

Allcargo Logistics Limited completed the Spin-Off of Allcargo Terminals Limited (NSEI:ATL) on April 24, 2023.