Shares of Gateway Distriparks, a transport and logistics company, were relisted on the exchanges on Tuesday, March 22. Formerly known as Gateway Rail Freight Limited Gateway, stock of Distriparks was listed at Rs 71.90 per share on the BSE and Rs 68.95 per share on the NSE.  

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"Trading Members of the Exchange are hereby informed that effective from March 22, 2022, the equity shares of Gateway Distriparks Ltd (Scrip Code: 543489) are listed and admitted to dealings on the Exchange in the list of ''T'' Group Securities," read a regulatory filing from the company.

The company completed its group amalgamation activities in December 2021. The three group companies - Gateway Distriparks Ltd., Gateway Rail Freight Ltd and Gateway East India Pvt. Ltd. have all merged into a single entity.

For every one share of the erstwhile company, shareholders have received four shares of the newly merged company. The combined entity now owns 9 inland container depots and container freight stations across the country, and provides rail & road transportation with 31 train sets, over 500 trailers, supported by over 1.2 million square feet of warehousing space. 

The relisting comes after the company completed the process of getting the approval for listing and trading of the equity shares allotted pursuant to the Composite Scheme of Amalgamation on BSE Limited and the NSE.  

Soon after relisting, shares of Gateway Distriparks were locked in 5% upper circuit at Rs 76.55 a share on the BSE. 

"This merger will enhance the value for the shareholders of the merged company, as a strong balance sheet with combined assets and cash flows will not only reduce the debt, but the company will also have cash available for expansion in new rail terminals. Going ahead, with the development of dedicated freight corridors across the country, a higher share of cargo will be carried over rail which will be more efficient and help India achieve its sustainability targets, in which Gateway Distriparks will play a major role," said Prem Kishan Das Gupta, Chairman & Managing Director. 

Gateway Distriparks Limited is an integrated inter-modal logistics service provider. It has a network of 9 Inland Container Depots and Container Freight Stations strategically located across the country, operating a fleet of 31 trainsets along with 500+ trailers for transportation between its facilities and maritime ports. The company offers general & bonded warehousing, rail & road transportation, container handling services and other value added services.