Jet Freight Logistics Limited – One of the leading and trusted technology-driven freight forwarding company with a specialisation for perishable cargo has launched its rights issue of Rs. 37.70 crore. Company is planning to utilise the funds for company’s expansion plans including purchase of warehouse, meeting working capital requirements, entering new geographies and for general corporate purpose. Rights issue of company is price at Rs. 16.25 per share.
Rights issue of the company will open on January 20 and closes on January 31. Last date for market Renunciation of Rights Entitlements is January 25, 2023. The Company will issue 2,32,01,892 fully paid-up equity shares of face value Rs. 5 each at an issue price of Rs. 16.25 per Equity Share (including a premium of Rs. 11.25 per Equity Share) aggregating to Rs. 37.70 crore. Sharing more details, Mr. Richard Theknath, Chairman and Managing Director, Jet Freight said, “Our long-term focus continues to be investing in growth through building new capacities, expanding footprints and delivering value for all our stakeholders.”
Board of the directors of the company on December14, 2022 approved the issuance of equity shares by way of a rights issue to eligible equity shareholders. Post the rights issue, total outstanding shares of the company should increase to 4,64,03,784 equity shares from 2,32,01,892 equity shares prior to the rights issue.
