Tiger Logistics Secures Board Approval for Rs 400 Crore Fundraising

Tiger Logistics (India) Ltd has announced its board's approval to raise up to Rs 400 crore through a preferential issue. The funds are intended to support the company's business growth plan, with a focus on utilizing equity shares and other financial instruments.

Tiger Logistics (India) Ltd revealed on Monday that its board has sanctioned a proposal to raise up to Rs 400 crore via preferential issue. The initiative is set to bolster the company's ambitious business growth strategy.

In an official exchange filing, the company highlighted its exploration of multiple financial instruments, including the issuance of equity shares, to attain the requisite funds.

The logistics giant, renowned for its adept handling of domestic and international cargo projects, emphasized its readiness to leverage diverse securities, such as convertible instruments, in one or several tranches to achieve this financial milestone.

(With inputs from agencies.)