GTL Ltd allots 18784046 Compulsorily Convertible Debentures

The Committee of Board of GTL Ltd in its meeting held on April 28, 2012, has considered and allotted One Percent Coupon 18,784,046 CCDs of face value of Rs. 100/ each to CDR Lenders and Zero Percent Coupon 4,515,000 CCDs of face value of Rs. 100/- each to the Promoter.

The said allotment of CCDs is in terms of the Letter of Approval dated December 23, 2011 issued by the CDR Empowered Group (EG) approving the debt restructuring proposal of the Company under the CDR system.

Shares of GTL Ltd. closed the day in BSE at Rs.36.50, up by Rs.0.25 or 0.69%. The stock hit an intraday high of Rs.36.75 and low of Rs.30.

The total traded quantity was 0.26 lakhs compared to 2 week average of 1.99 lakhs.

Source : Equity Bulls

Keywords