Tiger Logistics Board Approves Proposal To Raise Up To Rs 400 Crore Via Preferential Issue

Tiger Logistics (India) Ltd. on Monday said its board has approved a proposal to raise up to Rs 400 crore via preferential issue. The company is exploring various financial instruments including issuance of equity shares to raise the amount, an exchange filing said.

"To finance the business growth plan, the board gave in-principle approval of fund raising aggregating up to Rs 400 crore by issuance of equity shares, convertible instruments, or other permissible securities, in one or more tranches via preferential issue," the company said in the filing.

Tiger Logistics (India) is a global logistics player with expertise in handling the domestic and international import and export of cargo projects.