Patel Integrated Logistics Rights Issue: Things To Know

1. Patel Integrated Logistics Rights Issue bid opens on September 19, 2024.
2. The Rights Issue size is Rs 9.00 crore.
3. The upcoming issue’s price is set at Rs 2.5 per share.
4. The bid offer closes on October 1, 2024.

Patel Integrated Logistics Rights Issue: Synopsis

Patel Integrated Logistics Limited is coming up with its rights issue. The bid opens on September 19, 2024 and closes on October 1, 2024. The last Date to buy shares is on Thursday, September 5, 2024.The record date of this new issue is Thursday, September 6, 2024. The issue size is 5,00,000 equity shares amounting to Rs 9.00 crores. The issue price is Rs 18 per share, and the face value is Rs 10 per share.

This issue will allow existing shareholders to buy Patel Integrated Logistics equity shares at a discounted price. Patel Integrated Logistics' share price is Rs 22.17 per share. The eligible holders are being offered 8 Rights Equity shares for every 103 fully paid-up equity shares held on a September 6, 2024, record date. Through this rights issue, the company plans to raise Rs 9.00 crores. The register for this issue is Bigshare services private limited and lead managers are yet to be announced.

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Patel Integrated Logistics: About the Company

Patel Integrated Logistics, which was incorporated in 1962, is an Indian logistics and road transportation company. They offer logistics services, including air and surface transportation, courier services, and warehousing. The company operates a network of 500 stations nationwide and employs over 1,000 highly skilled individuals. They operate through a pan-India network with 24 branch offices and a presence in major cities, towns, and airports across the country. Patel Integrated Logistics business is divided into 3 divisions - Air Freight, Courier services and warehousing. The company has over 75,000 satisfied customers, including multinational corporations, public and private sector organizations, small-scale industries, and the trading community.

Patel Integrated Logistics: Objectives

The money received from this rights issue will be used for the repayment and prepayment of the past loans availed by the company. The remaining money will be used for fulfilling the general corporate purposes.

Important Details for Patel Integrated Logistics Limited Rights Issue

Timetable of Patel Integrated Logistics Limited Rights Issue

Patel Integrated Logistics Limited: Financial Metrics (Amt in Rs Crores)

Patel Integrated Logistics Limited posted a revenue of Rs 292.52 crore and net profit of Rs 5.54 crore for the period ending on March 31 2024. The revenue figures increased by 4% and net profit increased by 13% between the FY ending on 31 Mar 2024 and 31 Mar 2023.

Lead managers, Registrar of Rights Issue

The details of the book-running lead managers and for this issue are yet to be announced. However, the registrar for this issue is Bigshare Services Private Limited. You can check the allotment status by visiting their website.

FAQs

1. What are the details of the Patel Integrated Logistics Limited Rights Issue?

The issue size is 5,00,000 equity shares amounting to Rs 9.00 crores. The issue price is Rs 18 per share, and the face value is Rs 10 per share. This issue will allow existing shareholders to buy Patel Integrated Logistics equity shares at a discounted price.

2. When does the Rights Issue open and close?

The bid opens on September 19, 2024 and closes on October 1, 2024. The last Date to buy shares is on Thursday, September 5, 2024.The record date of this new issue is Thursday, September 6, 2024.

3. How can I apply for the Patel Integrated Logistics Limited Rights Issue?

You can apply for the Rights Issue once it opens for a subscription. Just visit the Bigshare services website to apply for the rights issue online.

4. How can I check the allotment status of the Patel Integrated Logistics Limited Issue?

The registrar for this upcoming rights issue is Bigshare Services Private Limited. Investors can check out the allotment by visiting the registrar's website.

5. What is the objective of the Patel Integrated Logistics Limited Rights Issue?

The money received from this rights issue will be used for the repayment and prepayment of the past loans availed by the company. The remaining money will be used for fulfilling the general corporate purposes.

6. What is the record date for the Patel Integrated Logistics Limited Rights Issue?

The record date determining the shareholders eligible for the Rights Issue, is set for September 12, 2024.

7. Where will the Patel Integrated Logistics Limited Right Issue be listed?

The Rights Issue will be listed on the BSE and NSE.

8. What is the entitlement ratio for the Patel Integrated Logistics Limited Right Issue?

The entitlement ratio is set at 8 Rights equity Shares for every 103 fully paid up equity shares held on record date September 6, 2024.

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