Gateway Distriparks relists; merger will give more access to cash, says CMD PK Gupta

The merger of three companies will give more access to cash, said Prem Kishan Gupta, chairman and managing director of Gateway Distriparks, on Tuesday, adding that combined cash will help reduce debt and go for expansion.

Gateway Distriparks' merged entity relisted on the stock market today. Now it will trade as a merged entity that will have the rail freight business, container freight station business and the inland container depot business under one umbrella.

In an interview to CNBC-TV18, Gupta said, “Three entities - Gateway Distriparks, which was listed; Gateway Rail and Gateway East, which were unlisted and both these unlisted companies had a different shareholding in the past. So the merger of these 3 companies will give us more access to the cash so that we can reduce our debt and go for expansion as well.”