In September 2020, the Board of Directors of the Company have approved the proposed composite scheme of amalgamation to reverse merge Gateway Distriparks Limited (GDL) into its subsidiary Gateway Rail Freight Ltd (GRFL). Post this restructuring exercise, GDL would be delisted and GRFL would be listed and renamed later. The rationale behind the business restructuring is to drive operational synergies and cost efficiencies, improve cash flows and debt servicing ability of the new merged entity GRFL and reduce statutory and regulatory compliances. This step goes in line with company’s yearlong effort targeted to unlock value while aggressively eyeing reduction of debt.
