Sical Logistics and Giri Vidhyuth have entered into a share subscription agreement on October 04, 2018. Under the Agreement, the company has agreed to issue and allot 65,71,928 equity shares of the company on a preferential allotment basis to Giri Vidhyuth, at a price of Rs 195 per equity share aggregating to 128.15 crore.
The funds raised by the company pursuant to the Preferential Allotment are proposed to be utilized discharging certain unsecured liabilities.
Sical Logistics is a holding company. The company is primarily engaged in providing integrated logistics services.