Mumbai, July 11 -- Mahindra Logistics Ltd (MLL), India's leading integrated third-party logistics service provider, today informed the stock exchange in a filing that its board of directors has given its approval for raising Rs 750 crore through a rights issue.
The funds raised will be utilised primarily for the repayment and prepayment, in full or in part, of all or a portion of certain borrowings obtained by the company and certain subsidiaries, as well as for general corporate purposes, the filing stated.
However, the company is yet to disclose the price of the rights issue, but stated that its board will decide the price of the rights issue, the rights entitlement ratio, timing of the rights issue, its record date, and other matters s...