Tiger Logistics to Raise ₹400 Crore Via Equity Shares, Convertible Instruments

Tiger Logistics (India) Ltd., a leading global logistics company specializing in domestic and international cargo operations, has unveiled plans to raise  ₹400 crore. This decision is part of the company’s strategy to fund its ambitious business growth initiatives and strengthen its operational capabilities.

Board Approves Rs. 400 Crore Fundraising

The company’s board has granted in-principle approval to raise up to  ₹400 crore via a preferential issue. This may include equity shares, convertible instruments, or other permissible securities issued in one or more tranches. The move aims to enhance financial flexibility, enabling the company to capitalise on emerging opportunities in the logistics sector. In its exchange filing, Tiger Logistics emphasized the importance of this fundraising in driving its expansion and delivering on its growth objectives effectively.

In addition to the fundraising announcement, the company has recently signed agreements with 3 public sector entities: BHEL Ltd., BEML Ltd., and Bank Note Paper Mill India Ltd. These agreements involve providing logistics handling and freight support for inbound and outbound shipments via air and sea routes, reflecting Tiger Logistics’ robust capabilities in the sector.

Tiger Logistics Share Performance

As of December 10, 1:30 PM, shares of Tiger Logistics are trading at ₹79.24 per share, up 0.18% from its previous day’s closing price on NSE. Over the last month, the stock has seen a surge of 11.27%. The stock has a 52-week high and 52-week low of ₹87.00 and ₹31.99 respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.