Key Quantitative Figures
- Allotment of 45,00,000 (Forty Five Lakhs) equity shares
- Face value: ₹10 per share
- Issue price: ₹15.18 per share
- Total allotment value: Approximately ₹6.83 Crores
Parties Involved
- Issuing Company: North Eastern Carrying Corporation Limited (NECCLTD)
- Allottee: Mr. Sunil Kumar Jain, Promoter of the Company
Purpose/Rationale
Conversion of unsecured loans into equity through preferential allotment basis.
Capital Structure Impact
Preferential allotment of 45 lakh equity shares to promoter resulting in increased equity capital and change in promoter shareholding pattern.
Financial Impact
Conversion of approximately ₹6.83 crores of unsecured loans into equity capital, reducing debt liability and increasing share capital.