Allcargo Gati informed that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 106.07 per share.
The company's board authorized and declared the opening of the issue on Monday, 24 June 2024.The floor price of Rs 106.07 is at a discount of 6.16% to the previous day's closing price of Rs 113.03 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
Gati is primarily engaged in the business of E-commerce logistics, and running of fuel stations.
The company reported a consolidated net loss of Rs 3.66 crore in Q4 FY24, as compared with net loss of Rs 16 crore recorded in Q4 FY23. Revenue from operations decreased 2.4% YoY to Rs 405.80 crore in Q4 FY24.
Shares of Allcargo Gati shed 0.22% to Rs 112.78 on the BSE.
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