The promoter group, including Shashi Kiran Shetty and Talentos Entertainment, have intimated the company of their plans of delisting, the company said.
Allcargo Logistics share price was locked in 20 percent upper circuit on August 25 morning after the company's promoters proposed to delist the company's shares from the stock exchanges.
The share price touched a 52-week high of Rs 130.80.
The company in its release said that its promoter group, including Shashi Kiran Shetty and Talentos Entertainment, have intimated the company of their plans to delist it.
In the delisting proposal letter, the promoters expressed their intention to, either individually/ collectively or together with other members of the Promoter Group, acquire all the fully paid-up equity shares of the company held by the public shareholders of the company and voluntarily delist the equity shares of the company from BSE Limited and National Stock Exchange of India.
Promoter Group collectively holds 17,20,22,209 equity shares aggregating to 70.01% of the paid-up equity share capital of the company.
The public shareholders hold 7,36,73,315 eEquity shares aggregating to 29.99% of the paid-up equity share capital of the company.
At 09:18, hrs Allcargo Logistics was quoting at Rs 130.80, up Rs 21.80, or 20 percent on the BSE.
There were pending buy orders of 325,499 shares, with no sellers available.