IL&FS Transportation Networks Ltd approves allotment of Preference Shares

The Committee of Directors of IL&FS Transportation Networks Ltd have approved the allotment of 12,64,50,000 Rated Listed Fully Paid-Up Cumulative Non-Convertible Compulsorily Redeemable Preference Shares (CNCRPS) of Rs. 10 each at a premium of Rs. 10 per share on a private placement basis on December 23, 2013.

The aforesaid CNCRPS were listed on the BSE Limited effective from December 24, 2013.

The Company had already issued 20,00,00,000 unrated, unlisted fully paid up Cumulative Redeemable Preference Shares of Rs. 10 each at a premium of Rs. 10 per share on a private placement basis on September 26, 2013.

With the aforesaid allotment the Company has issued 32,64,50,000 preference shares of Rs. 10 each as of date.

Shares of IL&FS Transportation Networks Ltd was last trading BSE at Rs.132.60, up by Rs.0.55 or 0.42%. The stock hit an intraday high of Rs.136.95 and intraday low of Rs.131.10.

The total traded quantity was 0.23 lakh shares as compared to 2 week average of 0.15 lakh shares.

Source : Equity Bulls

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