Adani Logistics

The deal is subject to customary regulatory and lenders' approvals and is expected to close in the second quarter of 2022-23

Adani Logistics has signed a definitive agreement to acquire the ICD "Tumb" (Vapi) from Navkar Corporation Ltd for an enterprise value of Rs 835 crore

The maintenance of these wagons will be done by Indian Railways on payment under an agreement to be executed with AALL

Adani Logistics has been offloading its stake in the Snowman Logistics via open market operations

Snowman Logistics stock is down 35% since deal was announced last December; valuation also hit by Rs 13 cr loss reported by company in first nine months of FY20

The purchase price of Rs 44 per share is a 3.2 per cent premium to the market price of December 27

Company picks up 40% in Snowman, plans to double capacity over next five years as it integrates logistics services and moves from port gate to customer gate

Brokerages see deal auguring well for both Adani Group companies

The automobile sector is witnessing a rapid growth