North Eastern Carrying Corporation Limited board approves 9:10 rights issue at Rs. 18 per share

The Board of Directors of North Eastern Carrying Corporation Limited, at its meeting held on Tuesday, May 16, 2023 (which commenced at 5.00 P.M. and concluded at 6.15 P.M.) has, approved the following terms and conditions of the Rights Issue:

Instrument: partly paid-up equity shares having a face value of Rs. 10/- each ("Equity Shares").

Total number of Equity Shares and Rights Issue size: 4,51,77,602 (Four crores fifty-One Lakhs Seventy-Seven Thousand Six Hundred and Two) Equity Shares of Rs. 10/- (Rupees Ten Only) each at an issue price of Rs. 18/- (Rupees Eighteen Only) per Equity Share aggregating to Rs. 81,31,96,836/- (Rupees Eighty One Crores Thirty-One Lakhs Ninety-Six Thousand Eight Hundred and Thirty Six Only).

Issue Price: Rs.18/- (Rupees Eighteen Only) per Equity Share payable as under:

On application - Rs.9 (Rupees Nine Only) per Equity Share
On subsequent call(s) - Rs.9 (Rupees Nine Only) per Equity Share

Rights entitlement ratio: 9(Nine) Rights Equity Shares for every 10 fully paid-up EquityShares held by the eligible equity shareholders of the Company, as on the record date (as may be notified subsequently). If the shareholding of any of the eligible equity shareholder is 10 (Ten) or more, such shareholders will be entitled to at least 9 (Nine) Equity Share.

Outstanding Equity Shares:

Prior to the Rights Issue - 5,01,97,336 Equity Shares

Post Rights Issue - 9,53,74,938 Equity Shares

Shares of North Eastern Carrying Corporation Limited was last trading in BSE at Rs. 21.60 as compared to the previous close of Rs. 22.01. The total number of shares traded during the day was 21908 in over 208 trades.

The stock hit an intraday high of Rs. 22.50 and intraday low of 19.90. The net turnover during the day was Rs. 469255.00.

Source : Equity Bulls

Keywords

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