Sical Logistics Limited — Important, 16-01-2025: Updates

Shareholders of Sical Logistics Ltd. approved key measures at the recent Extraordinary General Meeting. The authorized share capital has been increased from ₹220 crore to ₹230 crore, enabling the company to accommodate 80 crore equity shares and 15 crore preference shares. The board's borrowing limit has also been raised from ₹1,050 crore to ₹1,200 crore, providing more financial flexibility for operational funding.

Additionally, shareholders have given the green light for the creation of security over company assets, aligning with the increased borrowing capacity. The company is set to raise capital through a Qualified Institutions Placement (QIP) of equity shares and/or convertible securities, not exceeding ₹250 crore. This strategic move is aimed at bolstering its financial position and enhancing growth prospects, indicating a positive outlook for investors.