Description

BSE lists 39,55,062 new equity shares of North Eastern Carrying Corporation Limited (Scrip Code 534615) for trading from March 10, 2026, issued on preferential basis to promoters via warrant conversion.

Summary

BSE has notified trading members that 39,55,062 new equity shares of North Eastern Carrying Corporation Limited (Scrip Code: 534615) are listed and permitted to trade on the Exchange with effect from Tuesday, March 10, 2026. The shares were issued on a preferential basis to promoters pursuant to conversion of warrants.

Key Points

  • 39,55,062 equity shares of Rs. 10/- each issued at a premium of Rs. 22.05/- to Promoters on a preferential basis
  • Issued pursuant to conversion of warrants
  • Shares are ranking pari-passu with existing equity shares of the company
  • Issue price: Rs. 32.05/- per share
  • ISIN: INE553C01016
  • Distribution Numbers: 96044939 to 100000000
  • Date of Allotment: 28/08/2024
  • Trading commences: Tuesday, March 10, 2026

Regulatory Changes

No new regulatory changes. This is a standard listing notification for newly allotted securities under a previously approved preferential allotment.

Compliance Requirements

  • Trading members must note the new securities and their distribution numbers (96044939 to 100000000) for trading purposes
  • All lock-in restrictions must be observed; the entire 39,55,062 shares are under lock-in until September 30, 2027

Important Dates

  • Date of Allotment: August 28, 2024
  • Trading commencement: March 10, 2026
  • Lock-in expiry: September 30, 2027 (all 39,55,062 shares)

Impact Assessment

The listing adds approximately 39.55 lakh new equity shares to the tradeable pool of North Eastern Carrying Corporation Limited. However, since all newly listed shares are subject to a lock-in period until September 30, 2027, there is no immediate increase in free-float. Market impact is therefore limited in the short term. Post lock-in expiry, promoter selling activity could exert downward pressure on the stock price.

Impact Justification

Routine listing of new shares from preferential allotment to promoters via warrant conversion; includes a lock-in period until September 2027, limiting immediate market float impact.