Mumbai: Express logistics firm Allcargo Gati Ltd on Tuesday said it has raised Rs 169.28 crore by issuing equity shares through qualified institutional placement (QIP).
Allcargo Gati Ltd said in a statement that the fund raising committee of the company's board in its meeting held on June 28 has approved the issue and allotment to successful qualified institutional buyers at the issue price of Rs 101 per equity share, following which the new The capital has been secured. statement.
It said a total amount of Rs 169.28 crore was raised through participation from various investors in the QIP.
Pirojshaw Sarkari, Managing Director and CEO, Gati Express and Supply Chain Pvt Ltd, said, “The response to our QIP underlines the confidence investors have in our business strategy and market position. The funds raised will strengthen our financial position and lead to key Will support our development initiatives in the regions." Ltd. (GESCPL).
He said the proceeds from the QIP will be invested in technology, infrastructure and deleveraging the balance sheet, thereby paving the way for stronger growth for the company. He said that AllCargo Gati is entering a new growth phase with a special focus on customer experience through digital innovation. ,
Allcargo Gati Ltd said in a statement that the fund raising committee of the company's board in its meeting held on June 28 has approved the issue and allotment to successful qualified institutional buyers at the issue price of Rs 101 per equity share, following which the new The capital has been secured. statement.
It said a total amount of Rs 169.28 crore was raised through participation from various investors in the QIP.
Pirojshaw Sarkari, Managing Director and CEO, Gati Express and Supply Chain Pvt Ltd, said, “The response to our QIP underlines the confidence investors have in our business strategy and market position. The funds raised will strengthen our financial position and lead to key Will support our development initiatives in the regions." Ltd. (GESCPL).
He said the proceeds from the QIP will be invested in technology, infrastructure and deleveraging the balance sheet, thereby paving the way for stronger growth for the company. He said that AllCargo Gati is entering a new growth phase with a special focus on customer experience through digital innovation. ,
