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Our Bureau

Mumbai, March 27

Allcargo Global Logistics Ltd has filed draft red herring prospectus with SEBI to enter the capital market with an IPO of 20,79,000 shares of Rs 10 each through 100 per cent book building route.

The proceeds from the issue, estimated at Rs 95 crore, will be used by the company for setting up a container freight station, prepayment of loan taken from Yes Bank Ltd and acquisitions. The company, involved in multi-modal transport operations, owning and operating container freight station and handling project cargo, has branches and franchisees in about 26 locations in the country and covers nearly 4,000 destinations worldwide through tie-ups and agents. It had returned a net profit of Rs 24.5 crore on an income of Rs 232.19 crore in 2004-05. For the six months ended September 30, 2005, it had an income of Rs 133.35 crore and a profit after tax of Rs 22.6 crore.

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