Ritco Logistics Ltd. to Raise Funds, Increase Authorized Share Capital, and Grant Loan to Subsidiary

Ritco Logistics Ltd. announced the outcomes of its board meeting held on Tuesday, 25th June 2024. The board decided to increase the company's authorized share capital from 26 crores to 30 crores, subject to shareholder approval. The company also approved a preferential issue of equity shares up to Rs. 99,99,96,140 to non-promoter individuals and body corporates. Additionally, the board decided to grant a loan of up to Rs. 25 Crores to its step-down subsidiary for the development of a Logistics Aggregator platform, subject to shareholder approval. The company will hold an Extra Ordinary General Meeting on Saturday, 20 July, 2024, through Video Conferencing or Other Audio-Visual Means. The Register of Members and Share Transfer Books will be closed from 14 July, 2024 to 20 July, 2024, with the record date set as 13 July, 2024.