Lancer Container Lines Receives In-Principle Approval for Preferential Issue Against Unsecured Loan Conversion
Lancer Container Lines Ltd has secured in-principle approval from BSE Limited for a preferential allotment of equity shares. The move involves issuing 18,518,518 equity shares against the conversion of an unsecured loan.The approval details relate to the issuance of 1,85,18,518 equity shares of Lancer Container Lines Ltd to the Promoter. These shares are set at a face value of Rs. 5/- each and require a price not less than Rs. 10.80/- per equity share. The preferential issue is tied to the conversion of an unsecured loan totaling Rs. 20,00,00,000/-.
The in-principle approval was granted by BSE Limited concerning this specific corporate action.
Key financial details regarding the preferred share issuance are summarized below:
| Financial Metric | Detail |
|---|---|
| Company | Lancer Container Lines Ltd |
| Shareholders Issued | Promoter |
| Quantity of Shares | 18,518,518 equity shares |
| Face Value per Share | Rs. 5/- |
| Minimum Issue Price per Share | Not less than Rs. 10.80/- |
| Loan Conversion Amount | Rs. 20,00,00,000/- (unsecured loan) |
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