Jet Freight Logistics Limited board approves rights issue

The Board of Directors of Jet Freight Logistics Limited at its meeting held on Thursday, October 27, 2022, at the Registered Office of the Company at 12:00 p.m. discussed and approved the raising of funds through issue of equity shares on rights basis to the existing equity shareholders of the Company for an amount aggregating to less than Rs. 50 crores (Rupees Fifty Crores), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the "Rights Issue").

Further, the Board has constituted a Rights Issue Committee and authorised its members to decide on the terms and conditions of the Issue, including but not limited to, the final Issue size/amount, rights entitlement ratio, the issue price, record date, timing of the Rights Issue, approval of draft letter of offer; appointment of intermediaries and legal counsel, if required; allotment of shares and other related matters.

Source : Equity Bulls

Keywords

JetFreightLogistics FundRaising RightsIssue