North Eastern Carrying Corporation Limited Proposes Preferential Issue of 45,00,000 Equity Shares to Promoter

North Eastern Carrying Corporation Limited has disclosed its proposal to issue equity shares through a preferential issue to its promoter, as announced in a regulatory filing dated April 14, 2026. The company informed both the Bombay Stock Exchange and National Stock Exchange of India about this proposed corporate action under Regulation 30 of SEBI (LODR) Regulations, 2015.

Preferential Issue Details

The company plans to issue equity shares on a preferential basis to its promoters through conversion of outstanding unsecured loans into equity. This proposal is subject to approval from the shareholders of the company.

Parameter Details Type of Securities Equity Shares Type of Issuance Preferential Issue Total Shares Proposed Up to 45,00,000 equity shares Face Value Rs. 10 per share Issue Price Rs. 14.91 per share Premium Rs. 4.91 per share

Investor and Conversion Details

The preferential issue is targeted at Mr. Sunil Kumar Jain, who is a promoter of the company. The equity shares will be issued in lieu of Mr. Jain's unsecured outstanding loan to the company.

Key aspects of the arrangement include:

The issue price of Rs. 14.91 per equity share will be adjusted against the outstanding loan amount upon allotment

The conversion mechanism allows the company to convert debt into equity, potentially strengthening its balance sheet

The transaction involves only the company's existing promoter, maintaining the current ownership structure

Regulatory Compliance

The disclosure was made in compliance with SEBI Master Circular No. HO/49/14/14(7)/2025-CFD-PoD-2/1/3762/2026 dated January 30, 2026. The company has provided all required details as mandated under Regulation 30 of the SEBI LODR Regulations for preferential issues.

The filing was signed by Rakesh, Company Secretary and Compliance Officer (M. No. A57773), and submitted to both stock exchanges where the company's shares are listed. The proposal represents a strategic move to convert existing debt obligations into equity capital, subject to necessary shareholder approvals.

North Eastern Carrying Corporation Limited has successfully concluded its board meeting on April 14, 2026, approving several significant corporate actions including an increase in authorized share capital and multiple fund raising initiatives. The board meeting, held at the company's registered office, addressed key strategic decisions that will require shareholder approval through postal ballot.

Authorized Share Capital Enhancement

The board approved a substantial increase in the company's authorized share capital structure, demonstrating confidence in future growth prospects:

Parameter: Current Structure Proposed Structure Authorized Capital: Rs. 100 crore Rs. 110 crore Number of Shares: 10 crore equity shares 11 crore equity shares Face Value: Rs. 10 per share Rs. 10 per share Share Ranking: Pari passu Pari passu

This expansion will require alteration of Clause V (Capital Clause) of the Memorandum of Association, subject to shareholder approval through an ordinary resolution.

Strategic Fund Raising Initiatives

The board approved multiple fund raising mechanisms to support the company's expansion plans. The company will seek approval for raising funds through secured and unsecured loans, including an innovative option to convert such loans into equity shares. This flexible approach allows the company to optimize its capital structure based on market conditions.

Additionally, the board approved conversion of existing unsecured loans from promoters into equity shares through preferential issue, subject to compliance with applicable laws and shareholder approval via special resolution.

Corporate Governance and Related Party Transactions

Several governance-related approvals were granted during the meeting:

Approval Category: Details Loans/Guarantees to Subsidiaries: Up to Rs. 100 crore aggregate limit Section 186 Investments: Exceeding statutory limits Related Party Transactions: With Shreyans Logistics Pvt. Ltd. up to Rs. 50 crore Record Date for Postal Ballot: February 10, 2026

Regulatory Compliance and Next Steps

The board approved a comprehensive postal ballot notice to seek shareholder approval for all proposed resolutions. The meeting, which commenced at 1630 hours and concluded at 1730 hours, was conducted in full compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company Secretary and Compliance Officer Rakesh (Membership No. A57773) has digitally signed all documentation, ensuring proper regulatory compliance. The company will now proceed with the postal ballot process, having fixed February 10, 2026, as the record date for determining eligible shareholders.

The approved resolutions demonstrate the company's strategic focus on capital optimization and business expansion, with the authorized share capital increase providing flexibility for future growth initiatives while maintaining regulatory compliance standards.

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