Tiger Logistics to raise ₹400 crore via equity shares, convertible instruments – CNBC TV18

Tiger Logistics (India) Ltd on Monday (December 9) said its board of directors has approved an in-principle fundraising plan of up to ₹400 crore through the issuance of equity shares, convertible instruments, or other permissible securities via a preferential issue.

The funds will be raised in one or more tranches, subject to statutory approvals and in compliance with SEBI (ICDR) Regulations and other applicable laws.

Last month, Tiger Logistics said it has signed multiple agreements with three public sector entities BHEL, BEML and Bank Note Paper Mill India for providing logistics handling and freight support through air and sea routes. As part of the order, it will help the companies with their inbound and outbound shipment, the company said in an exchange filing.

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“Three prominent PSUs Bharat Heavy Electricals Ltd (BHEL), Bharat Earth Movers Ltd (BEML), and Bank Note Paper Mill India have reinforced their confidence in the company. These renewed partnerships underscore the PSUs’ reliance and trust on us for efficient logistics handling and freight forwarding for both sea and air cargo, spanning exports and imports,” the company said.

Tiger Logistics (India) is an international logistics player known for its expertise in handling the import and export of cargo and projects. It has a very strong base of approximately 50 agents and partners all over the world. Its competitive edge lies in its asset-light model and providing a one-stop solution to customers for international trades.

Shares of Tiger Logistics (India) Ltd ended at ₹79.11, up by ₹2.17, or 2.82%, on the BSE.

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