₹81.32 Crores | Listing at BSE, NSE | Wed, Jun 14, 2023 - Tue, Jul 11, 2023
North Eastern Carrying Corporation Limited Rights Issue comprises 4.52 Cr equity shares aggregating to ₹81.32 Cr, offered at an issue price of ₹18 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Jun 2, 2023, with the Rights Issue being offered in the entitlement ratio of 9 : 10.
The term of payment is defined as following : Investors will have to pay Rs. 9 at the time of allotment, Rs. 9 at the time of one or more subsequent Call(s) as determined by the Board/Committee at its sole discretion, from time to time.
The Rights Entitlements are expected to be credited to eligible demat accounts on Jul 24, 2023.
The Rights Issue opens on Jun 14, 2023, and closes on Jul 11, 2023, with renunciation of Rights Entitlements permitted up to Jul 6, 2023.
The deemed date of allotment is Jul 24, 2023, following which the equity shares are expected to be credited to demat accounts on Jul 25, 2023 and listed at the NSE and the BSE on Jul 27, 2023.
Capital Square Advisors Pvt.Ltd. is the Lead Manager to the issue and Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the North Eastern Carrying Corporation Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Jun 2, 2023
Entitlement Ratio
9 : 10
Open Date
Wed, Jun 14, 2023
Close Date
Tue, Jul 11, 2023
Investors will have to pay Rs. 9 at the time of allotment, Rs. 9 at the time of one or more subsequent Call(s) as determined by the Board/Committee at its sole discretion, from time to time.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 199.48 | 378.20 | 6.39 | 43.09 | 43.09 | 76.12 |
| 31-Mar-21 | 196.39 | 232.74 | 1.43 | 94.72 | 44.52 | 86.17 |
| 31-Mar-22 | 217.87 | 250.86 | 4.22 | 98.94 | 48.74 | 100.94 |
| Amount in ₹ Crore | ||||||
Incorporated in 1984, North Eastern Carrying Corporation Limited (NECC) is engaged in the transportation business. The company primarily operates in India and is headquartered in Delhi.
In its transportation delivery service of more than four decades, North Eastern Carrying Corporation has grown to 200+ branches. The company handles transportation and supply chain solutions throughout India, Nepal, Bangladesh, and Bhutan.
Given its extensive experience in the industry, the company is capable to create customized and effective solutions for a variety of industrial, commercial, and residential freight movements. The operations are supported in efficiency by advanced resources and in-depth familiarity with the domain.
NECC offers seamless Logistics Management Solutions with a strong capacity network and advanced troubleshooting capabilities.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] Though this RI is below its NAV as of December 31, 2022, poor financial performance raises concern. The company is in a highly competitive and fragmented segment. A quantum jump in its post-RI equity base may pose servicing issue. Based on its financial performance, the issue is fully priced discounting near-term positives. There is no harm in skipping this pricey offer. Read detail review...
North Eastern Carrying Corporation Limited
9062/47, NECC House,
Ram Bagh Road Azad Market,
Delhi-110 006
Delhi, New Delhi, 110006
Purva Sharegistry (India) Pvt.Ltd.
The North Eastern Carrying Corp. Rights Issue 2023 opens on Wed, Jun 14, 2023, and closes on Tue, Jul 11, 2023.
North Eastern Carrying Corp. Rights Issue 2023 Schedule
| Last Date for credit of Rights Entitlements | Tue, Jun 13, 2023 |
| Last Date for renunciation of Rights Entitlements | Thu, Jul 6, 2023 |
| Issue Opening Date | Wed, Jun 14, 2023 |
| Issue Closing Date | Tue, Jul 11, 2023 |
| Date of Allotment (on or about) | Mon, Jul 24, 2023 |
| Date of Credit (on or about) | Tue, Jul 25, 2023 |
| Date of Listing (on or about) | Thu, Jul 27, 2023 |
You can apply for North Eastern Carrying Corp. Rights Issue 2023 in two ways:
Steps to apply for North Eastern Carrying Corp. Rights Issue 2023 using Net Banking (ASBA)
Steps to apply for North Eastern Carrying Corp. Rights Issue 2023 using Registrar's website (R-WAP)
