Shares of Allcargo Logistics tumbled 28.5% in early trade on April 18, the ex-date for the company’s proposed spin-off. The restructuring plan involves breaking up two more companies and aims to streamline the company and make it more organised.

The restructuring will also help Allcargo adopt an asset-light model for its core business and unlock value for its demerged entity. Following the demerger, Allcargo Logistics will be split into three listed entities – Allcargo Logistics Ltd, Allcargo Terminals Ltd (ATL) and TransIndia Realty and Logistics Parks Ltd (TRLPL).

The company has set April 18 as the record date for determining the company’s shareholders entitled to acquire shares in ATL and TRLPL.

One fully paid-up share capital of ATL and TRLPL of the face value of Rs 2 each will be issued to eligible shareholders of AllCargo Logistics whose names appear in the register of members of the company on the record date. Each fully paid-up share in the company shares a face value of Rs 2.

At 11:04 am, Allcargo Logistics was up 2% at Rs 275 on the BSE but traded 21% lower at Rs 72.65 on the NSE.

Parent company Allcargo Logistics will lead the global supply chain solutions, express delivery and contract logistics businesses. It will retain its shareholding ownership in international subsidiaries ECU Worldwide, Gati Ltd and Avvashya CCI’s contract logistics arm.

ATL will strengthen its leadership in the container freight station (CFS) segment and expand its footprint in India and overseas. The shares in Speedy Multimodes will become part of ATL. TRLPL, on the other hand, will include annuity businesses such as crane leasing and logistics parks.