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Economic Times
19 minutes ago
- Economic Times
Allcargo Terminals to raise Rs 38.28 cr through issuance of 1.32 cr fully convertible warrants
Multimodal logistics operator Allcargo Terminals Ltd (ATL) on Tuesday said it plans to raise Rs 38.28 crore through the issuance of up to 1.32 crore fully convertible warrants to the promoters/promoter group. ADVERTISEMENT The proposed fundraise, which will kickstart ATL's three-year expansion plans, will be utilised for building capacity and setting up new container freight stations (CFS) and inland container depots (ICDs), the company said. An Allcargo group firm, ATL, specializes in CFS and ICD with pan-India presence, serving diverse logistical requirements at strategic locations such as JNPT, Mundra, Chennai, and Kolkata. "The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025," Allcargo Terminals said. "As India's logistics sector undergoes structural transformation, ATL is well positioned to scale up operational capacity while remaining capital-efficient and growth-focussed, creating sustainable value for all stakeholders," said Shashi Kiran Shetty, Founder and Chairman, Allcargo Group. Each warrant has a face value of Rs 2 per share, will be issued at an issue price of Rs 29 per warrant with a premium of Rs 27 per warrant, subject to shareholder and regulatory approvals, it stated. ADVERTISEMENT This issuance accounts for approximately 5 per cent of ATL's post-conversion equity share capital and is priced at around 1 per cent premium to the SEBI-defined floor price, as per the company. ATL said its current capacity stands at 8.3-lakh TEUs annually across seven facilities in five hubs that handle approximately 80 per cent of India's EXIM trade. ADVERTISEMENT ATL plans to augment its capacity to over 13-lakh in the coming three years -- by expanding some of its key facilities and by developing new CFS/ICD facilities, the company said. This strategic move is in line with ATL's long-term growth roadmap and will support the company's multi-location infrastructure expansion at Mundra and Nhava Sheva, Greenfield ICD at Farukhnagar and infra upgrades at existing facilities, ATL said. ADVERTISEMENT Currently operating at 80-85 per cent capacity utilisation, the expansion plans will enable the company to cater to future demand and consolidate its leading position in key logistics corridors, the company said. "This expansion comes at a time when our core facilities are operating near full capacity. The proposed expansion in Mundra and Nhava Sheva, greenfield ICD at Farukhnagar and infra upgrades at existing facilities are aligned to strengthen our multimodal footprint," said Suresh Kumar R, Managing Director, Allcargo Terminals Ltd.
New Indian Express
27 minutes ago
- New Indian Express
HDFC Life net profit jumps 14% to Rs 546 crore on investment gains
MUMBAI: HDFC Life has reported a 14% on-year jump in net profit at Rs 546 crore for the June quarter on higher margins which could offset the lower than expected premium collection in terms of annual premium equivalent (APE) which came in at Rs 3,225 crore. Another big boost came in from the massive spike in investment income for policyholders which printed in Rs 1,459 crore compared to just Rs 1.8 crore in the previous quarter (Q4FY25). Gross premium income for the quarter stood at Rs 1,487 crore of which first-year premia came in at Rs 760 crore, and Rs 472 crore from renewals of single premia, taking the total gross premium to over Rs 2,680 crore. Net premium income rose to Rs 1,446 crore. However, individual APE grew 12.5 and the retail APE came in at Rs 2,777 crore while the key business metric value of new business (VNB) stood at Rs 809 crore, up 12.7% and new business margin improved to 25.1%. Vibha Padalkar, the managing director, said Q1 began on a strong note, with healthy growth across topline, value of new business and steady margins. Individual APE grew by 12.5% on-year, translating into a robust two-year annualised growth of 21%. She said the company outperformed both the overall industry and the private sector, resulting in a 70 bps increase in market share at the overall level to 12.1%, a new milestone for it.
Time of India
30 minutes ago
- Time of India
7.3cr fraud: Man who gave docus to open mule a/c held
1 2 Mumbai: A Chembur resident was recently arrested by south region cyber police in a Rs 7.3-crore investment fraud case for allegedly allowing his address to be used to open a bank account for a shell company to which part of the money was diverted. The victim, a 63-year-old south Mumbai businessman, was shown profits of Rs 31 crore in a virtual wallet. Police said the fraudsters asked the suspect, Rahul Gawli (41), to visit Goa, where they opened a bank account in a fake company's name and used his and another accused's documents for it. Gawli was assured of a monthly pay in exchange. The gang operated the company's account, to which the complainant sent Rs 5 lakh. The complainant lodged a police complaint on May 17 stating that he was added to a WhatsApp group through a link in Feb. A woman, Riya Bansal, and some other gang members pretended to be representatives of a private company that manages the portfolios of investors. In a WhatsApp message, Bansal told the businessman that they would invest his money in the primary market and that he would stand to earn huge profits. The man wanted to open an account in his daughter's name. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Providers are furious: Internet access without a subscription! Techno Mag Learn More Undo So, he sent her details to Bansal. Later, Bansal sent him a registration form, which had a fake Sebi number of the company. He was assured of a 10% monthly profit and was later added to another group for high-end customers. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai This group's administrator asked him to download a trading app. The businessman was asked to send money to different bank accounts. From March 7-May 6, he deposited Rs 7.3 crore. The complainant withdrew Rs 28 lakh, but when he tried to do it again, he failed. Bansal then told him he would have to pay an additional Rs 3.7 crore to withdraw money. This is when he realised he had been conned and approached police. A team comprising senior inspector Nankumar Gopale and inspector Suresh Bhoye is probing the case.
