Patel Integrated Logistics Approves Buyback of 60 Lakh Shares

Patel Integrated Logistics Ltd has announced a board resolution approving a buyback of up to 60,00,000 equity shares, representing approximately 60 lakh shares. The buyback will be conducted at a price of ₹18 per share, with a face value of ₹10 per share, through the tender offer route via stock exchanges. The company stated that the buyback aims to optimize capital structure, enhance shareholder value, provide an opportunity for shareholders to tender shares at a premium, and improve fundamental ratios. The buyback is in compliance with SEBI Buyback Regulations and the Companies Act, 2013. The board believes the company's shares are trading below their intrinsic value, and this action will help return surplus cash to shareholders without impairing growth opportunities.