This penny stock announces record date for rights issue: Details here

A small cap company with a market valuation of ₹38.01 crore in the logistics industry is Patel Integrated Logistics Ltd. The company is among the leading road and surface logistics providers in Asia. Potential investors and current shareholders should be informed that the firm has declared the record date for the rights issue.

The company has said in a regulatory filing that “The Board of Directors of the Company at their meeting held today, i.e. 20th September, 2022 in accordance with the disclosures made in the Letter of Offer dated 25th October, 2021 (the "Letter of Offer") and in compliance with the provisions of the Companies Act, 2013 and the rules framed thereunder, the rules and regulations framed by the Securities and Exchange Board of India, Articles of Association and other applicable laws, has inter-alia: 1. Decided to issue the Notice of First and Final Call for receipt of First and Final Call money of Rs. 7.50/- per Partly Paid-up Rights Equity Share issued and allotted pursuant to the Rights Issue of the Company. 2. Fixed 7th October, 2022 as the Record Date for the purpose of determining the shareholders of the Partly Paid-up Rights Equity Shares to whom the call notices will be dispatched for payment of the first and final call on the Partly Paid-up Rights Equity Shares. 3. Decided the last date for payment of First and Final Call for the eligible equity shareholders is 4th November, 2022 (the Board of Directors may from time to time, at its discretion, extend the time fixed, for the payments of the Call). Further, in accordance with the disclosures included in the Letter of Offer, the Rights Equity Shares in respect of which the First and Final Call payable remains unpaid may be forfeited at any time after the last date for payment of the First call amount due.”

The shares of Patel Integrated Logistics Ltd closed today on the NSE at ₹14.75 apiece, down by 0.34% from the previous close of ₹14.80. In the last 5 years, the stock has fallen 55.68% and in the last 1 year, the stock has gained 6.34%. On a YTD basis, the stock has fallen 10.33% so far in 2022 and has gained 4.24% in the last 6 months. In the last 1 month, this penny stock has fallen 5.14% and has fallen 1.67% in the last 5 trading sessions. The stock had touched a 52-week-high of ₹20.90 on (28-July-2022) and a 52-week-low of ₹11.60 on (22-June-2022), indicating that at today's closing price the stock was trading 29.42% below the high and 27.15% above the low. For the quarter ended June 2022, the company recorded a promoter shareholding of 41.08% and a public shareholding of 58.92%.