GDL was incorporated on April 06, 1994 and got the certificate of
commencement of business on October 24, 1994. The Company was
originally promoted by NTSC, CWT Distribution Limited ('CWT'), NUR
Investment and Trading Pvt. Ltd ('NUR'). and Intercontinental Forest
Products Pte. Ltd. ('IFP') as a joint venture company to conduct the
business of warehousing, container freight stations and all related
activities. On March 13, 1995, IFP resigned as a joint venture partner
and was replaced by Parameswara Holdings Ltd. and on April 01, 1996.
CWT and NUR also resigned as joint venture partners and they were
replaced by Windmill International Pte Ltd. and Thakral Corporation
The development of the CFS at Dronagiri was completed in three phases.
Phases I & II, spread over an area of 24.71 acres, were completed at a
total cost of Rs. 850 mn. The land was acquired from CIDCO. Phase I of
the CFS achieved optimum capacity utilization during the year 2000.
Phase II became operational in April 2001. Development of Phase III,
spread over an additional area of 10.30 acres of land, acquired from
CIDCO and situated adjacent to the existing plot has been completed
during the second quarter of the financial year 2003-04. The capital
expenditure of Phase III was funded through a placement of 10.20 mn
shares with IDFC at a price of Rs. 25.49 per share aggregating to Rs.
In April 2004, GDL acquired an ICD at Garhi Harsaru as a going concern
for a consideration of Rs. 177.50 mn. The ICD is well connected by road
and GDL has received permission from the Northern Railways to set up a
railway siding. At present, the ICD has a total developed area of 9.88
acres (converted), which is being upgraded. GDL also acquired
additional land of 17,83 acres adjoining the ICD alongside the broad
gauge railway track on the Delhi-Jaipur main trunk line.
In August 2004, GDL executed a joint venture agreement to acquire 60%
stake in Gateway East India Pvt. Ltd. (erstwhile Viking Exim Ventures
Pvt. Ltd), through a fresh infusion of equity. GDL has invested Rs-15
mn towards equity contribution. GEL has leased 20 acres of land from
the Vishakapatnam Port Trust and will operate a CFS catering to the
demand of containerisation at Vishakapatnam port, GEL has commenced
work on Phase I of the project spread over 8 acres of land.
GDL had entered into a share purchase agreement on December 01,2004, to
acquire Indev Warehouse and Container Services Pvt, Ltd., a CFS at
Chennai, for a total consideration of Rs. 270.00 mn.
On November 10,2004, Aranda (a part of Temasek Holdings Limited,
Singapore) acquired a 10% stake in the Company through an offer for
sale of Equity Shares by the existing shareholders at a price of
Rs. 32/- per share.
Major Events in the History of the Company
Calender Year Event
1994 Certificate of Incorporation
1998 Completion of Phase I
1999 ISO certification
2000 Completion of Phase II
2000 Maiden dividend
2001 IDFC's investment
2003 Bonus Issue
2003 Completion of Phase III
2004 Acquisition of ICD at Garhi Harsaru
2004 Expansion into Vizag
2004 In principle Approval for rail siding at ICD Garhi
2004 Investment by Aranda
2004 Acquisition of CFS at Chennai
2005 Final Approval for rail siding at ICD Garhi
2006 Gateway Distriparks Ltd has informed that Infrastructure Development Finance Company Ltd. (IDFC) has withdrawn their nomination in favour of Mr. Saroosh Dinshaw as a Director from the Board of the Company with effect from October 31, 2006. Consequent to the withdrawal of the nomination, Mr. Saroosh Dinshaw has resigned and the Board has accepted his resignation as Nominee Director on behalf of IDFC.
-The Company has issued Bonus Shares in the Ratio of 1:4.