Mahindra Logistics on Saturday announced its board has approved to raise up to Rs 250 crore via various means, including loans and debt issuances.
The company in a regulatory filing said the borrowing will be done in one or more tranches.
The board of directors, at its meeting held Saturday, “approved the borrowing of funds including by way of availing additional working capital facilities, credit facilities, term loans, issue of listed/unlisted Commercial Papers through private placement, issue of Non-Convertible Debentures through private placement up to an aggregate amount of Rs 250 crores”, it said.
Shares of Mahindra Logistics Ltd at the BSE closed at Rs 261.50 on Thursday as compared to the previous close of Rs 263.85.
The stock hit an intraday high of Rs 273.80 and intraday low of Rs 257.95 on Thursday.
Mahindra Logistics is the logistics arm of the Mahindra Group.