Gati shines on talks of acquisition by TVS Logistics

Amir Shaikh
/ Categories: Trending

Hyderabad-based logistic service provider, Gati Limited surged almost 30 per cent in three trading session amidst news that TVS Logistics is likely to acquire a controlling stake in the company.

India’s top logistic service provider, TVS Logistics, is in talks with Gati to acquire a majority stake in the company for approximately Rs. 1,500 crore, according to a leading business daily. TVS Logistics is said to be in talks to acquire promoter holding of 23 per cent and is also looking to acquire minority stake from Goldman Sachs. Besides, the minority shareholders are also likely to get an open offer as part of the transaction.

If the deal gets through, it is likely to be a positive for Gati’s shareholders as currently, its market capital stands at around Rs. 1,177 crore. 

TVS Logistics founded in the year 2004 has a turnover of almost Rs. 5,600 crore and has a presence in 50 countries.

In Monday’s trading session, the stock of Gati opened gap up at Rs. 104.5 per share as against the previous close of Rs. 97.7, later it surged almost 17 per cent to touch an intra-day high of Rs. 115. At 12 hours, the stock was trading at Rs. 109.3 per share, up by almost 12 per cent from its previous close.

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