Announced Mon, 11 May · 12:28 IST
Please find enclosed intimation under Regulation 30 of (LODR)- Preferential Issue
Fund Raising View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-7.1%1-day move
₹10.76
prior close
₹10.38
base price
In-mkt
timing
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+0.0-0.3-0.3-0.8-7.1-7.5-8.9-7.4-10.9-14.5+0.8-6.2-3.1—
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AI summary
Lancer Container Lines' board has approved issuing up to 1.85 crore equity shares at ₹10.80 per share (face value ₹5) to promoter Suleyman Emre, aggregating ₹20 crore. The shares will be issued by converting existing unsecured loans given by the promoter to the company. This requires shareholder approval via postal ballot. Post-allotment, the promoter's stake will increase from 25.21% to 28.94%.
Likely market impact
Debt-to-equity conversion reduces company borrowings and strengthens balance sheet. The significant share issuance to a promoter increases their voting power and may dilute existing shareholders' stakes.