IL&FS Engineering and Construction Company allots 1,24,17,218 Equity Shares

IL&FS Engineering and Construction Company Ltd has allotted 1,24,17,218 fully paid up equity shares of Rs. 10/- each to the banks under Corporate Debt Restructuring Scheme at a price of Rs. 60.40 per equity share on September 30, 2012 by converting 75,00,000 6%- Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) of Rs. 100/- each as per the terms of issue of OCCRPS.

The IL&FS Engineering and Construction Company Ltd stock closed the day at Rs.65.05, up by Rs.1.40 or 2.20%. The stock hit an intraday high of Rs.66.40 and low of Rs.62.50.

The total traded quantity was 0.51 lakhs compared to 2 week average of 0.21 lakhs.

Source : Equity Bulls

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