The Board of Allcargo Logistics Ltd has hired Inga Ventures Pvt Ltd to carry out due diligence ahead of taking a call on a proposal moved by the promoter and promoter groups to delist the company’s shares from the bourses.

At a meeting called to discuss the delisting proposal on Thursday, the board noted that it has to be approved by the Board and the shareholders of the company in accordance with the SEBI Delisting Regulations.

“The delisting proposal is required to be approved by the Board only after receipt of a due diligence report from a merchant banker appointed by the Board in this regard,” the company said after the meeting.

The promoter and promoter groups said that the planned delisting would enhance the company’s operational, financial and strategic flexibility including corporate restructurings, acquisitions, exploring new financing structures including financial support from the members of the promoter group.

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