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Thursday, April 13, 2006

Allcargo Global Logistics plans IPO, files DRHP

Allcargo Global Logistics, a logistics service provider involved in multimodal transport operations, MTO, owning and operating container freight station, CFS, and handling of project cargo, proposes to enter the capital market with a public issue of 20,79,000 equity shares of Rs 10 each through 100% book building process. It has filed DRHP with SEBI for the purpose, as per press release.

ENAM Financial Consultants Private is the book running lead manager for the Issue, IL&FS Investsmart is senior co-book running lead manager and Inga Advisors Private is the co-book running lead manager. Intime Spectrum Registry is the registrar to the issue.

The company intends to deploy the net proceeds of the issue for financing the setting up of CFS/ICD, prepayment of loan availed from Yes Bank, general corporate expenses including acquisitions.

It has achieved an income of Rs 2321.93 million and PAT of Rs 245.47 million for the FY 2005. For the six-month period ending September 30, 2005, it has achieved an income of Rs 1333.49 million and a PAT of Rs 225.91 million.

Allcargo Global Logistics started MTO in 1998 and have since then built expertise in this field. Today it has a pan India presence across 26 locations through its branches and franchisees and an extensive international covered of over 4000 destinations through strategic ties-ups and agents.

As a multimodal transport operator, it offers end-to-end freight services for export and import cargo utilizing multiple modes of transport such as sea, road, rail and air. At present it is one of the leading less than container load, LCL, consolidators and have large full container load, FCL, volumes. The company also undertakes multi city consolidation, MCC, which involves movements of cargo from hinterland locations to CFS at gateway ports.

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