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Patel Integrated okays rights issue

Our Bureau Chennai | Updated on October 25, 2021

The board of Patel Integrated Logistics has approved ₹40 crore rights issue. The company plans to offer 4 crore shares at ₹10 a scrip to eligible shareholders. The rights entitlement ratio is 613 shares for every 399 held by the eligible shareholders as on the record date, which has been fixed as October 29. While shareholders have to pay ₹2.5 on application, the balance ₹7.5 would be first and final call. The issue opens on November 9 while the last date for market renunciation (RE shares) is November 17. The issue will close on November 23.

Published on October 25, 2021

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