Gati Limited board approves preferential issue

At the meeting of the Board of Directors of Gati Limited held today i.e. Friday, May 07, 2021, the board has considered and approved the Issuance of up to 10,23,020 Equity Shares of face value of Rs. 2 each ("Equity Shares") at a price of Rs. 97.75/- per Equity Share at a premium of Rs. 95.75/- per Equity Share, aggregating up to Rs. 10,00,00,205/- (Rupees Ten Crore Two Hundred and Five Only) and 71,61,120 Equity Warrants at a Price of Rs. 97.75/- per Equity Warrants with the right to warrant holder to apply for and be allotted 1 (One) Equity Share of the face value of Rs. 2/- each of the Company at a premium of Rs. 95.75/- per equity share for each Equity warrant within a period of 18 (Eighteen) months from the date of allotment of the warrants, aggregating up to Rs. 69,99,99,480/- (Rupees Sixty Nine Crores Ninety Nine Lacs Ninety Nine Thousand Four Hundred and Eighty Only) to Allcargo Logistics Limited, Promoter of the Company on Preferential issue basis.

Shares of GATI LTD. was last trading in BSE at Rs.107.05 as compared to the previous close of Rs. 108.65. The total number of shares traded during the day was 56562 in over 966 trades.

The stock hit an intraday high of Rs. 110.8 and intraday low of 104.7. The net turnover during the day was Rs. 6078065.

Source : Equity Bulls

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