Penny Stock Below Rs 20 Hits 5% Upper Circuit After Announcing Buyback at 13% Premium

On Thursday, Indian benchmark indices ended marginally higher, with the Nifty 50 gaining 34.35 points, or 0.14 per cent, to close at 24,056. Amid the positive market sentiment, Logistics-ltd-126381">Patel Integrated Logistics share price were locked in the 5 per cent Upper Circuit at Rs 15.96 after the company issued a corrigendum to the public announcement relating to its proposed Rs 10.80 crore share buyback.

Patel Integrated Logistics Issues Corrigendum to Buyback Announcement

Patel Integrated Logistics informed the stock exchanges that it has issued a corrigendum to the public announcement for its proposed buyback of equity shares through the tender offer route. The corrigendum was published in Financial Express, Jansatta and Mumbai Lakshadeep newspapers on June 26, 2026, in accordance with the SEBI (Buy-Back of Securities) Regulations.

The company stated that the corrigendum forms part of the public announcement originally issued following the Board's approval of the buyback proposal on June 23, 2026.

Rs 10.80 Crore Buyback at Rs 18 Per Share

The Board of Directors approved the buyback of up to 60 lakh fully paid-up equity shares having a face value of Rs 10 each at a buyback price of Rs 18 per share, payable in cash through the tender offer route.

The total buyback size is up to Rs 10.80 crore, excluding transaction costs, applicable Taxes and other related expenses. Based on Thursday's upper circuit price of Rs 15.96, the buyback price represents a premium of approximately 12.78 per cent.

Buyback to be Conducted Through Tender Offer

The company said the buyback will be undertaken on a proportionate basis from eligible shareholders and beneficial owners in accordance with the SEBI Buyback Regulations. The corrigendum includes certain revisions to the public announcement, while all other terms and conditions of the buyback remain unchanged.

Copies of the corrigendum and related buyback documents will also be available on the company's website, the manager to the buyback's website and the websites of SEBI, BSE and NSE during the buyback period.
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About Patel Integrated Logistics

Patel Integrated Logistics Ltd is engaged in integrated logistics and transportation services, offering air freight, surface transportation, warehousing, and supply chain management solutions across India.

The company is listed on both the NSE and BSE and provides logistics solutions to customers across multiple industries.

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Disclaimer: The article is for informational purposes only and not investment advice.