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Shares of Allcargo Logistics NSE -3.93 % hit 20 per cent upper circuit limit in Tuesday’s trade after the company said its board will meet on Thursday to consider a proposal for voluntary delisting of the company.

In a note to BSE, the company said it received a letter from Shashi Kiran Shetty and Talentos Entertainment, members of the promoters, wherein the two promoters expressed their intention to, either individually or collectively or together with other members of the promoter droup, as the case may be, acquire all the fully paid-up equity shares of the company.

Each equity share of the stock has a face value of Rs 2 each.

Following the development, the scrip rose 20 per cent…

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You may also want to read this: “Shashi Kiran Shetty’s plan to delist Allcargo takes industry by surprise“.

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