Patel Integrated Logistics Rights Issue will open for subscription on 26 February 2021. the company aims for an issue size of ₹9.50 Crores through this rights issue.
Patel Integrated Logistics Limited
Incorporated in 1962, Patel Integrated Logistics Limited is engaged in the business of providing logistics services and unified solutions focusing on air transportation and surface transportation as well as ancillary services such as courier services and warehousing. The company started as a One-man, one-truck activity under the name of Patel Roadways Private Limited. Later, in 2006, the company got merged with Patel On-Board Couriers to form Patel Integrated Logistics.
Patel Integrated Logistics is one of the pioneers of logistics in India and is India’s first multimodal transport operator providing all logistics solutions under one roof. The company has a pan-India network comprising 24 branch offices and a presence across India covering major cities/towns/airports.
Patel Integrated Logistics has been certified by the International Air Transport Association (“IATA”) and is also a member of the Global Logistics Network (“GLN”). The company owns 3 acres of land on the outskirts of Chennai, on which it plans to construct a warehouse at a suitable time in the future.
Objective of the Issue
- Repayment/prepayment of a portion of principal and/or interest of certain borrowings by the Company.
- General corporate purposes.
Rights Issue Timetable
| Bid/Offer Opens On | Feb 26, 2021 |
| Bid/Offer Closes On | Mar 12, 2021 |
| Record Date | Feb 18, 2021 |
| Deemed Date of Allotment | Mar 23, 2021 |
| Renunciation of Rights Entitlements | Mar 8, 2021 |
Patel Integrated Logistics Rights Issue Detail
| Security Name | Patel Integrated Logistics Limited |
| Issue Size (Shares) | 0.95 Crores |
| Issue Size (Amount) | ₹9.50 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Market Lot | 1 per share |
| Listing At | BSE |
| Terms of Payment | The full amount of Rs 10 per Rights Equity Share is payable on Application. |
| Entitlement | 27 Rights Equity Share for every 47 fully paid-up Equity Shares held on the Record Date |
Patel Integrated Logistics Rights Issue Registrar
Bigsharere Services Pvt Ltd
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis,Makwana Road,
Marol, Andheri(E), Mumbai – 400 059
Phone: +91-22-6263 8200
Email: rightsissue@bigshareonline.com
Website: http://www.bigshareonline.com
Company Contact Information
Patel Integrated Logistics Limited
Patel House, 5th floor,
Plot No. 48, Gazdarbandh, North Avenue Road,
Santacruz (West), Mumbai- 400 054
Phone: +91 022 2605 8476
Email: sweta.parekh@patel-india.com
Website: http://www.patel-india.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing