Patel Integrated Logistics Ltd receives Rs. 10 crore from rights issue

Patel Integrated Logistics Ltd has received proceeds of right issue of Rs.10,00,00,000 less expenses related to right issue in its Bank Account. The Company is in the process of deploying the fund to reduce the debt as mentioned in Letter of Offer so that the interest cost can be saved. This will benefit the financials also.

Shares of Patel Integrated Logistics Limited was last trading in BSE at Rs. 14.87 as compared to the previous close of Rs. 14.96. The total number of shares traded during the day was 130528 in over 261 trades.

The stock hit an intraday high of Rs. 16.19 and intraday low of 14.81. The net turnover during the day was Rs. 1952959.00.

Source : Equity Bulls

Keywords

PatelIntegratedLogistics INE529D01014 PATINTLOG RightsIssueProceeds DebtReduction