Gati Ltd to raise Rs. 120 crores

The Board of Directors of Gati Ltd at its meeting held on January 24, 2015, has approved the fund raising not exceeding INR 120 Crores by way of issue of securities to Indian or Foreign Investors / QIBs / FIIs / Venture Capital Funds or any other category of Investors in accordance with SEBI guidelines and subject to necessary approvals from statutory authorities and Shareholders as may be required.

The Board also approved the allotment of 2,13,450 Equity shares of Rs. 2/- each on exercise of stock options under Employee Stock Option Scheme of the Company. Consequently, the Equity Share Capital of the Company has increased from 8,72,64,087 Equity shares of Rs. each aggregating to 17,45,28,174/- to 8,74,77,537 Equity shares of Rs. 2/ each aggregating to Rs. 17,49,55,074/-.

Shares of GATI LTD. was last trading in BSE at Rs.272.2 as compared to the previous close of Rs. 274.8. The total number of shares traded during the day was 479589 in over 34547 trades.

The stock hit an intraday high of Rs. 280 and intraday low of 270.2. The net turnover during the day was Rs. 132045136.

Source : Equity Bulls

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