Logistics company Gateway Distriparks' rights issue, which closed on August 13, was subscribed 1.24 times, the company has said.
The Rs 116-crore rights issue received bids for 2,00,38,760 shares against the offer size of 1,61,07,859 shares, a release said. That means the issue received a demand of Rs 144.27 crore.
The issue opened for subscription on July 30 with an offer price of Rs 72 per equity share.
The rights entitlement ratio was four rights equity shares for every 27 fully paid-up equity shares held by the shareholders.
Gateway Distriparks will utilise the net issue proceeds (out of the issue size of Rs 115.97 crore) for repaying debt.
Rights shares will be listed on the exchanges on August 25.
Gateway Distriparks operates two container freight stations (CFS) at Navi Mumbai, one each in Chennai, Krishnapatnam, Kochi and Visakhapatnam, with a total capacity of over 600,000 TEUs.
These CFSs offer transportation and storage, general and bonded warehousing, empty handling and several value-added services.
Its rail operations are handled by a subsidiary, Gateway Rail Freight.
ICICI Securities was the lead manager to the rights issue and Link Intime was the registrar to the issue.
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