Patel Integrated Logistics raises fund from Mauritius firm to fuel e-commerce entry
The company will allot 700,000 equity shares at `115 apiece and 929,000 equity warrants at `115 each to Frontline Strategy
Mumbai: Logistics firm Patel Integrated Logistics Ltd. has raised ₹ 18.73 crore through an issue of equity shares and equity warrants on a preferential basis to Mauritius-based Frontline Strategy Pvt Ltd, an India-focussed private equity investment firm, to fund its e-commerce venture plan.
The company will allot 700,000 equity shares at ₹ 115 apiece and 929,000 equity warrants at ₹ 115 each to Frontline Strategy, it informed the stock exchanges on Thursday.
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