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BusinessWire India
Mumbai (Maharashtra) [India], June 8: The allotment follows the approvals received from the Board of Directors, shareholders, and the in-principle approvals granted by the stock exchanges. Jet Freight Logistics Limited has already received INR 16.84 crore, representing 25% of the total warrant consideration, with the balance amount payable at the time of conversion of the warrants into equity shares in accordance with applicable regulations. The preferential issue witnessed participation from both promoter and non-promoter investors, reflecting confidence in the company's growth strategy and long-term business prospects. Strengthening the Foundation for Future Growth The proposed capital infusion is expected to provide Jet Freight Logistics Limited with enhanced financial flexibility to support its next phase of growth. The proceeds are proposed to be utilized towards: - Meeting working capital requirements; - Repayment and/or prepayment of existing borrowings; and - General corporate purposes. The capital commitment comes at a strategic stage in the company's growth journey as Jet Freight continues to expand its international presence, strengthen its ocean freight business, scale its e-commerce and courier verticals, invest in technology-led logistics solutions, and pursue opportunities across key trade corridors, including the Middle East, Europe, and North America. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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