Allcargo Terminals to invest about Rs 1.06 cr in associate AGSPL via rights issue
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Allcargo Terminals board approved subscribing to the rights issue of associate company Allcargo Group Services Pvt Ltd (AGSPL) at Rs 1,76,840 per share, totaling about Rs 1.06 crore for 60 equity shares. The investment is proportional to its existing 25% stake in AGSPL. AGSPL is a promoter group entity that provides shared services to group companies and currently has nil turnover. The funds will be used by AGSPL for working capital and general corporate needs. The transaction is on arm's length basis in cash and is expected to complete by October 2026.
Minor equity infusion in associate; stake stays at 25% with no material change in consolidated financials.