IL&FS Transportation Networks Ltd approves allotment of 5 crore Preference Shares

The Committee of Directors of IL&FS Transportation Networks Ltd has approved on January 17, 2014 the allotment of 5,00,00,000 Rated Unlisted 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.

The Company had earlier issued and allotted 32,64,50,000 CNCRPS of Rs. 10 each at a premium of Rs. 10 per share on a private placement basis.

With the aforesaid allotment, the Company has issued 37,64,50,000 preference shares of Rs. 10 each as of date.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs.124.30, down by Rs.4.25 or 3.31%. The stock hit an intraday high of Rs.128.50 and intraday low of Rs.123.70.

The total traded quantity was 0.11 lakh shares as compared to 2 week average of 0.11 lakh shares.

Source : Equity Bulls

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