GATI shares jump 4% on stake sell buzz

NEW DELHI: Shares of GATI jumped 4 per cent in Tuesday's session amid reports that the company's promoters may sell their entire stake to TVS Logistics.

An ETNow report suggested that a deal between Gati and TVS Logistics may be announced soon.

Gati's promoters hold nearly 24 per cent stake in the company and the deal is likely to be at a 15 per cent premium to the current market price.


The report, quoting sources, added that other investors may also decide to exit their stake.

Goldman Sachs holds nearly 7.1 per cent while Kintetsu holds 4 per cent stake in the company. The deal will trigger an open offer due to the breach of limit.

Shares of the company closed 1.90 per cent up at Rs 80.35 on BSE.