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GRFL to become listed entity

News: Trading has been suspended in the Gateway Distriparks stock due to procedural reasons, as the Board of Directors of erstwhile GDL and Gateway Rail Freight (GRFL) have fixed January 6, 2022 as the record date for determining the shareholders of company (GDL) who shall be entitled to recieve GRFL, as envisaged in amalgamation and reverse merger scheme.

Views: As per the corporate restructuring process, GRFL will become the listed entity and parent GDL and subsidiary GEIPL will cease to exist. Each GDL shareholder will receive four GRFL shares while the new entity is expected to be listed at Rs.70-80 per share