1 hr ago
Aegis Logistics Board Considers Fundraising as Shares Rise
Aegis Logistics may try to raise more money for its business.
Its board is scheduled to discuss this today.
The company could raise money by selling shares, bonds or other financial instruments.
It may also use a method called a qualified institutions placement.
The company must receive the required regulatory and shareholder approvals.
India Ratings and Research recently confirmed its credit ratings.
Aegis Logistics’ share price has risen 128% over the past six months.
Analysts’ 12-month target price is slightly below the current price, suggesting 2.5% potential downside.
Aegis Logistics’ board is scheduled to meet today to consider proposals for raising funds.
Potential fundraising methods include equity shares, bonds, debentures, warrants and other securities.
The company may pursue a qualified institutions placement or another permitted method, subject to approvals.
India Ratings and Research affirmed Aegis Logistics’ ratings at IND AA/Positive and IND A1+.
Aegis Logistics shares have risen 128% in six months, while the target price implies 2.5% downside.
- Who
- Aegis Logistics and its board.
- What
- The board will consider and evaluate proposals to raise funds through shares, bonds and other securities.
- Where
- When
- The board meeting is scheduled for today; the ratings were affirmed recently.
- Why
- To consider possible fundraising through a qualified institutions placement or other permitted methods.
Key facts
- Company
- Aegis Logistics
- Board meeting
- Scheduled for today
- Potential fundraising
- Equity shares, bonds, debentures, warrants and other equity-based instruments
- Possible method
- Qualified institutions placement or another permissible mode
- Required approvals
- Regulatory and shareholder approvals may be required
- Credit ratings
- IND AA/Positive and IND A1+ affirmed by India Ratings and Research
- Six-month share performance
- Up 128%
- 12-month target price
- Rs 1,330.80, implying 2.5% potential downside
Sources
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