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Blackstone to invest Rs 380 crore in Allcargo for industrial and logistics parks

Allcargo Logistics announced that it will be receiving an investment upto Rs 380 crore from the global private equity investor, the Blackstone Group, to develop industrial and logistics parks across India.

“This partnership will help Allcargo’s growing 3 PL (third party logistics) businesses and enable MNCs and Indian companies to access its warehousing assets,” said the release.

Allcargo will retain a minority stake in the various logistics assets and transfer its debt as it relates to these specific assets to their relevant subsidiaries. The transaction through debt and equity is expected to conclude in a phase-wise manner over the next 12 months, subject to customary closing conditions.

The Indian warehousing sector has emerged as an attractive investment destination for global investors: Shashi Kiran Shetty, chairman, Allcargo Logistics Ltd

“The Indian warehousing sector is scaling an expansionary curve backed by a robust regulatory environment and government thrust in boosting manufacturing, e-commerce and organized retail. This sector has emerged as an attractive investment destination for global investors. Through this strategic tie-up, we reiterate our commitment and positioning to create a global benchmark in warehousing infrastructure and provide state-of-the-art warehousing solutions to our customers,” said Shashi Kiran Shetty, chairman, Allcargo Logistics Ltd.

Allcargo has completed and ongoing projects in the advanced stage of developments for 6 million square feet of Grade A logistics parks across the National Capital Region (NCR) Delhi, Bengaluru, Hyderabad, Ahmedabad, Pune, JNPT in MMR (Mumbai), Hosur and Goa. About 80% of the company’s warehousing portfolio is pre-leased of which close to 1.5 million square feet is already income producing. The company further has projects in the planning stage for another 3 million square feet.

Allcargo Logistics Limited

Allcargo Logistics Limited offers specialised logistics services across Multimodal Transport Operations, Container Freight Station Operations/Inland Container Depot Operations, Project & Engineering Solutions and Logistics Parks.

The company currently operates through more than 300 offices in over 160 countries, supported by a network of franchisee offices across the world. Allcargo Logistics is listed on the BSE Limited (Scrip Code- 532749) and The National Stock Exchange of India Limited (Scrip Code-ALLCARGO).

 

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