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North Eastern Carrying Corporation Limited Rights Issue (North Eastern Carrying Corp. Rights Issue 2023) Detail

June 14, 2023 - July 11, 2023
North Eastern Carrying Corporation Limited Logo

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.

North Eastern Carrying Corp. Rights Issue 2023 Detail

Issue Open June 14, 2023 - July 11, 2023
Security Name North Eastern Carrying Corporation Limited
Issue Size (Shares) 45,177,602
Issue Size (Amount) ₹81.32 Crores
Issue Price ₹18 per share
Face Value ₹10 per share
Listing At BSE, NSE
Terms of Payment

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.

Entitlement 9 Rights Equity Share(s) for every 10 fully paid-up Equity Shares held on Record Date

North Eastern Carrying Corp. Rights Issue 2023 Issue Timetable

Last Date to buy sharesJune 1, 2023
Record Date June 2, 2023
Credit of Rights Entitlements June 13, 2023
Bid/Offer Opens On June 14, 2023
Renunciation of Rights Entitlements July 6, 2023
Bid/Offer Closes On July 11, 2023
Deemed Date of Allotment July 24, 2023
Credit Date July 25, 2023
Listing Date July 27, 2023

Company Financials

North Eastern Carrying Corporation Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-20199.48378.206.3943.0943.0976.12
31-Mar-21196.39232.741.4394.7244.5286.17
31-Mar-22217.87250.864.2298.9448.74100.94
Amount in ₹ Crore

Objects of the Issue:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Construction and Development of Warehouse, and
  2. General Corporate Purpose.

North Eastern Carrying Corp. Rights Issue 2023 Documents

North Eastern Carrying Corp. Rights Issue 2023 Rating

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North Eastern Carrying Corp. Rights Issue 2023 Reviews

Company Contact Information

North Eastern Carrying Corporation Limited
9062/47, NECC House,
Ram Bagh Road Azad Market,
Delhi-110 006

Phone: 011-23517516, 17, 18, 19
Email: co@neccgroup.com
Website: http://neccgroup.com/

North Eastern Carrying Corp. Rights Issue 2023 Registrar

  1. Purva Sharegistry India Pvt Ltd
    Phone: +91-022-23018261/ 23016761
    Email: support@purvashare.com
    Website: https://www.purvashare.com/investor-service/ipo-query

North Eastern Carrying Corp. Rights Issue 2023 Lead Manager(s)

North Eastern Carrying Corp. Rights Issue 2023 FAQs

The North Eastern Carrying Corp. Rights Issue 2023 opens on June 14, 2023, and closes on July 11, 2023.

North Eastern Carrying Corp. Rights Issue 2023 Schedule

Last Date for credit of Rights EntitlementsJune 13, 2023
Last Date for renunciation of Rights EntitlementsJuly 6, 2023
Issue Opening DateJune 14, 2023
Issue Closing DateJuly 11, 2023
Date of Allotment (on or about)July 24, 2023
Date of Credit (on or about)July 25, 2023
Date of Listing (on or about)July 27, 2023

North Eastern Carrying Corp. Rights Issue 2023 price is set at ₹18 per share per equity share.

The eligible shareholders are being offered 9 Rights Equity Share(s) for every 10 fully paid-up Equity Shares held on Record Date (June 2, 2023).

The record date for the North Eastern Carrying Corp. Rights Issue 2023 is June 2, 2023.

The issue size of North Eastern Carrying Corp. Rights Issue 2023 is of 45,177,602 equity shares at ₹18 per share aggregating upto ₹81.32 Crores.

The Letter of Offer for North Eastern Carrying Corp. Rights Issue 2023 can be download here.

You can apply for North Eastern Carrying Corp. Rights Issue 2023 in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for North Eastern Carrying Corp. Rights Issue 2023 using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the North Eastern Carrying Corp. Rights Issue 2023 available on the list.
  4. Click the Apply button next to the North Eastern Carrying Corp. Rights Issue 2023.
  5. Fill and check your information.
  6. Submit the application.

Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.

Steps to apply for North Eastern Carrying Corp. Rights Issue 2023 using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select North Eastern Carrying Corp. Rights Issue 2023 from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.

1 Comments

1. Siva     Link|June 26, 2023 6:04:19 PM
I have been holding this company shares from the time it's price was around Rs 40/-. Don't know whether to apply for the rights issue and what will be the return.

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