The Board of Directors of Patel Integrated Logistics Ltd at its meeting held on October 17, 2019, has authorised the further issuance of equity shares of the Company, on rights basis, to the existing shareholders of the Company as on record date on such ratio and at such price as may be decided in consultation with the Lead Managers to the proposed rights issue.
Further the committee comprised of Board members is formed and delegated the powers with respect to the aforesaid purpose.
The board approved increase in Authorised Share Capital from Rs.20,00,00,000/- (Rupees Twenty crore only) divided into 2,00,00,000 (Two Crore) Equity Shares of Rs. 10/- (Rupees Ten) each to Rs.30,00,00,000/- (Rupees Thirty crore only) divided in to 3,00,00,000 (Three Crore) Equity Shares of Rs.10/- (Rupees Ten) each and consequential amendments to the existing capital clause in the Memorandum of Association of the Company, subject to the approval of Shareholders.
The board also approved the proposed alteration of the object clause in the Memorandum of Association of the Company to include suitable clauses that enables the company to explore new business opportunities, subject to the approval of Shareholders.
Shares of PATEL INTEGRATED LOGISTICS LTD. was last trading in BSE at Rs.21.25 as compared to the previous close of Rs. 20.8. The total number of shares traded during the day was 8163 in over 136 trades.
The stock hit an intraday high of Rs. 21.5 and intraday low of 20.6. The net turnover during the day was Rs. 171117.