This logistics solution provider approves allotment of equity shares on preferential basis - Details
Earlier, NECC bagged an order from the state-run Gas Authority of India (GAIL India Ltd). The company said in a regulatory filing that the order is worth Rs 52.48 crores.
North Eastern Carrying Corporation, a logistics solution provider, has informed exchanges that its board of directors has approved the allotment of 6,70,000 equity shares and 39,55,062 share warrants convertible into equity shares on preferential basis.
"Allotment of 6,70,000 equity shares and 39,55,062 shares warrants convertible into equity shares on the preferential basis of the face value of Rs 10 each at a price of Rs 32.05 which includes a premium of Rs 22.05 per equity share to promoters and another non-promoter group person for cash consideration by way of the preferential issue on a private placement basis in accordance with the Companies Act, 2013, SEBI (ICDR) Regulations and other applicable laws," the company said in an exchange filing.
Earlier, NECC bagged an order from the state-run Gas Authority of India (GAIL India Ltd). The company said in a regulatory filing that the order is worth Rs 52.48 crores.
Recently, the company entered into a memorandum of understanding (MoU) with SG Logistic Management Pvt Ltd to invest up to Rs 20 crore in the same and acquire up to 20 per cent of shares/ other securities therein. SG Logistic Management is a part of SG Group, which is in the logistics industry.
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