Gati raises ₹80 cr via pref issue

The board of Gati has approved the allotment of 10.23 lakh shares on preferential basis at ₹97.75 a share, aggregating up to ₹10 crore. The board has also approved allotment of 71.61 lakh warrants at ₹97.75 a warrant with the right to apply for one share within a period of 18 months from the date of allotment, aggregating up to ₹70 crore. The company, however, did not inform the exchanges to whom the shares were allotted. The stock, which hit a low of ₹139 and a high of ₹152.80 during the day, closed at ₹145.65 on the BSE, down 2.38 per cent.