Shares of Gateway Distriparks Ltd (formerly known as Gateway Rail Freight Ltd - GRFL) were relisted on the bourses on Tuesday.

GDL listed at ₹72.95 on the BSE. It recorded an intra-day high of ₹76.55 and a low of ₹69.35 post listing. The company’s shares closed at ₹74.05, up ₹1.10 or 1.51 per cent.

The shares were listed at ₹68.95 on the NSE and closed at ₹72.35. It may be recalled that the stock last traded around ₹285 at the bourses on January 4.

GDL relisted as a new merged entity under the same name on the BSE and NSE. It had completed the process of getting the approval for listing and trading of the equity shares allotted pursuant to the Composite Scheme of Amalgamation.

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 nine inland container depots and container freight stations across the country, and provides rail and road transportation with 31 train sets, over 500 trailers, supported by over 1.2 million sq ft of warehousing space, it said.

According to Prem Kishan Das Gupta, Chairman and Managing Director, "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,” he added.

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