Jet Freight Logistics Limited, a leading and trusted technology-driven freight forwarding company with specialisation in perishable cargo, is planning to launch its rights issue of `37.70 crore. The company is planning to utilise the funds for its expansion plans including purchase of warehouse, meeting working capital requirements, entering new geographies and for general corporate purpose. The company fixed January 11, 2023 as the record date for the purpose of determining the equity that shareholders are entitled to receive the rights entitlement. The rights issue of the company is priced at `16.25 per share.
The rights issue will open on January 20 and close on January 31. The last date for market renunciation of the rights entitlements is January 25, 2023. The company will issue 23,201,892 fully paid-up equity shares of face value `5 each at an issue price of `16.25 per equity share including a premium of `11.25 per equity share, aggregating to `37.70 crore. The rights entitlement ratio for the proposed issue is fixed at 1:1 (one fully paid-up equity share for every one fully paid-up equity share held by the equity shareholders.
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