Mahindra Logistics raises INR 749 crore through rights issue

Mahindra Logistics Limited approved a rights issue of up to 270 million equity shares at INR 277 per share, raising up to INR 749.27 crore.

The company will offer 3 shares for every 8 held, with proceeds primarily used to repay existing borrowings (INR 556.30 crore) and fund general corporate purposes including strategic growth opportunities.