|
| Exchange Disseminated Time 14/01/2016 19:51:03 | Patel Integrated Logistics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 14, 2016 has approved the allotment of 7,00,000 Equity Shares of face value of Rs.10/- each on preferential basis at an issue price of Rs. 115/- per Equity Share (including premium of Rs. 105/- per equity share) and 9,29,000 Equity Warrants of face value of Rs. 10/- each on preferential basis at an issue price for Rs. 115/- per Equity Warrant (including premium of Rs. 105/- per equity warrant) to Frontline Strategy Limited, a Company registered in Mauritius.
The allotment which has been approved is being made in accordance with Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and subject to necessary compliances stipulated under Foreign Exchange Management Act, 1999, the Consolidated Foreign Direct Investment Policy of 2015 and other rules, regulations, notifications and circulars as may be issued from Reserve Bank of India from time to time.
Consequent to such allotment, the Paid-up Equity Share Capital of the Company has increased from Rs. 15,18,66,120/- consisting of 1,51,86,612 equity shares of Rs.10/- each to Rs. 15,88,66,120/- consisting of 1,58,86,612 equity shares of Rs.10/- each. |
|
|