Patel Integrated Logistics Ltd to raise funds through rights issue

The Board of Directors of Patel Integrated Logistics Ltd at its meeting held on 07th September, 2023 have considered and approved the raising of funds of up to Rs.10,00,00,000 (Rupees Ten Crore Only) byway of offer and issue of equity shares/ reissue of forfeited shares to the existing and eligible shareholders of the Company on right basis (Rights Issue) for the purpose of complying with SEBI (ICDR) Regulation, 2018, SEBI (LODR) Regulation, 2015 and directions of stock Exchange.

The Board has constituted a Committee of Directors (Rights Issue Committee) for the above purpose and has authorised the Rights Issue Committee to determine the terms of the Rights Issue including the quantum of issue, rights entitlement ratio, issue price with premium thereon, if any, issue size, book closure or record date, entitlement, timing of the issue etc. and to decide all other matters relating to the Rights Issue.

Shares of Patel Integrated Logistics Limited was last trading in BSE at Rs. 17.04 as compared to the previous close of Rs. 16.83. The total number of shares traded during the day was 64903 in over 104 trades.

The stock hit an intraday high of Rs. 17.20 and intraday low of 16.60. The net turnover during the day was Rs. 1099108.00.

Source : Equity Bulls

Keywords

PatelIntegratedLogistics INE529D01014 FundRaising RightsIssue