Patel Integrated Logistics has executed loan documents of amount of Rs 50.0 million with Small Industries Development Bank of India (SIDBI) for setting up warehouse facility at Bangalore on 2.20 acres land obtained on very long term lease of 99 years from Karnataka Industrial Areas Development Board (KIADB).

This step has been taken by the company as a part of its aggressive plan for expanding warehouse business on a pan India Basis. In addition the company is actively looking for setting up warehouse facilities in Gujarat and Chennai.

Shares of the company gained Rs 2.95, or 3.33%, to trade at Rs 91.50. The total volume of shares traded was 9,839 at the BSE (9.39 a.m., Friday).