Logistics service provider Allcargo Logistics, which recently closed its share buyback offer, is looking at acquisition opportunities in India and abroad.

Logistics service provider Allcargo Logistics, which recently closed its share buyback offer, is looking at acquisition opportunities both in India and overseas.

Allcargo Logistics has dipped 5% to Rs 130.65, after the board of logistics firm approved a share buyback proposal at a price not exceeding Rs 142.50 per share through open market mechanism.

Allacargo Logistics is trading firm up 7% at Rs 135 in otherwise weak market, on announcing buyback of its own equity shares from the public shareholders.

Allcargo Global Logistics on Thursday said it plans to enter third-party logistics business in a few months and expand its warehousing capacity to 400,000 sq ft.

Allcargo Global Logistics, the Mumbai-based Rs 2500 crore end-to-end logistics provider, has chalked out Rs 40 crore investment plan to expand warehousing capacity from the existing 3,00,000 sq feet to one million sq feet in the next three years.

Allcargo Global Logistics today said its subsidiary has acquired the controlling stake in Hong Kong based companies for an undisclosed sum in order to expand its non-vessel owning common carrier (NVOCC) business.

Recent policy changes on bulk cargo transport, plus robust container traffic volumes, will boost growth rates of logistics companies.

Mumbai-based logistics service provider, Allcargo Global Logistics Ltd, is upgrading its container freight station (CFS) at Mundra in Gujarat by doubling its cargo handling capacity.

The city-based logistics major Allcargo Global Logistics is planning to enter the shipping segment and offshore oilfield services within next two to three months, a senior company official said.

Allcargo Global Logistics said on Wednesday it has raised about Rs 100 crore through a share sale to qualified institutional buyers at Rs 184.8 each.

Private Equity backed Allcargo Global Logistics (AGL), a Mumbai based logistics firm, on Friday raised nearly Rs 100 crore through qualified institutional placement (QIP). The QIP proceeds will be used for acquisition in US and India, informed sources.

Allcargo Global Logistics has moved up 2% to Rs 191, after the company informed the stock exchanges, that it will open books for qualified institutional placements (QIP) to raise funds.

Allcargo Global Logistics has commenced  third party logistics solutions.