Shares of Tiger Logistics (India) Ltd gained significantly on December 10 after the company announced its board’s approval to raise up to Rs 400 crore via a preferential issue.
The company intends to utilize the proceeds to support its growth initiatives,” the company said in a regulatory filing. Issue of funds by issuance of equity shares or convertible instruments or other approved securities in one or more tranches.
Tiger Logistics is one of the major international logistic providers, specializing in domestic and international import-export cargo projects. The recent fundraising move indicates that the company is committed to expanding operations and boosting its market presence. This development has fanned investor optimism, reflected in today’s strong performance of the stock during the trading session.
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Source: Moneycontrol
News Desk
