Allcargo Logistics to acquire 90% stake in Madanahatti Logistics

Allcargo Logistics announced that it has entered into a securities purchase agreement (SPA) with BRE Asia Urban Holdings to acquire 90% equity share capital and optionally convertible debentures (OCDs) of Madanahatti Logistics and Industrial Parks. Madanahatti Logistics and Industrial Parks was incorporated on 6 December 2018. It is engaged in the warehousing leasing and management business. The company reported a turnover of Rs 3.05 crore for the financial year ended 31 March 2022. The company stated that the acquisition aligns with real estate business being demerged into TransIndia Realty & Logistics Parks and is a strategic fit with future plans. The company will acquire 5,40,000 shares or 90% of the equity shareholding of Madanahatti Logistics for a cash consideration of Rs 6.36 crore and 1,07,78,147 Class A OCDs for Rs 17.60 crore.