Promoter of NECC Acquires Over 39 Lakh Equities; Check Details Here

North Eastern Carrying Corporation (NECC), a logistics solution provider, has informed that the promoter has acquired over 39 equity shares. The company has made the disclosure about the same through an exchange filing.

The company said in an exchange filing that it received disclosure from Sunil Kumar Jain on April 8 for the acquisition pursuant to preferential Allotment. As per an exchange filing, "Sunil Kumar Jain has acquired 39,55,062 warrants convertible into equity shares of North Eastern Carrying Corporation Limited on April 4, pursuant to preferential allotment, aggregating to acquisition of shares of value more than Rs 10 lakh".

The company has a market cap of Rs 281 crore. Its 52-week high is Rs. 37.40 and its 52-week low is Rs. 15.93.
Earlier this month, The Board of North Eastern Carrying Corporation at its meeting held on 04 April 2024 approved the allotment of 6,70,000 equity shares and 3955062 share warrants convertible into equity shares on a preferential basis of 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 other non-promoter group person (hereinafter referred to as Allottees) for cash consideration by way of a preferential issue on a private placement basis.

NECC offers a wide range of transport services in India, Nepal and Bhutan. Its services include booking small parcels, full truck load consignments, project consignments to over dimensional consignments (ODC). NECC also provides containerized movement of cargo, warehousing, packing and moving and storage facilities.