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Patel Integrated Logistics receives Rs10cr from rights issue

The current market cap of the company is Rs38.72cr.

December 13, 2021 12:27 IST | India Infoline News Service
Patel Integrated Logistics Ltd has informed that the Company has received proceeds of right issue of Rs10cr less expenses related to right issue in its Bank Account.

Further, the Company is in the process of deploying the fund to reduce the debt as mentioned in Letter of Offer so that the interest cost can be saved. This will benefit the financials also, said company in a regulatory filing.

On Monday at around 12:30 PM, Patel Integrated Logistics was trading at Rs15.10 apiece up by Rs0.23 or 1.55%.

Previously, the scrip ended at Rs14.87 apiece on the BSE.

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