Announced Tue, 14 Jul · 16:36 IST
BSE in-principle nod for preferential share issue to promoter
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+1.1%1-day move
₹10.23
prior close
₹10.25
base price
After-mkt
timing
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+1.2+1.5+1.3+1.3+1.1+1.6-1.8-0.1-1.2-1.0————
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AI summary
Lancer Container Lines received BSE in-principle approval to issue 1,85,18,518 equity shares (about 1.85 crore) at not less than Rs 10.80 per share to its promoter. Face value is Rs 5 per share. Allotment is on a preferential basis against conversion of an unsecured loan of Rs 20 crore owed to the promoter. This turns promoter debt into equity, strengthens the balance sheet but adds about 1.85 crore new shares to the share base.
Likely market impact
Promoter loan turning into equity improves balance sheet but dilutes existing shareholders by around 1.85 crore shares.