IL&FS Transportation Networks Ltd to raise Rs. 1000 crores

The Board of Directors of IL&FS Transportation Networks Ltd at its meeting held on July 22, 2014, approved the further issue of equity shares of the Company for an amount not exceeding Rs. 1,000 Crores by way of Qualified Institutional Placements / Convertible Bonds, etc. to the eligible Investors in accordance with the SEBI (Issue of Capital and Disclosure Requirements), Regulations, 2009 (ICDR Regulations)

The timing, pricing and exact quantum of equity shares to be issued are to be decided by the Committee of the Board of Directors, mandated for the purpose.

The above are subject to the approval of the Shareholders of the Company and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable law.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs.241.25 as compared to the previous close of Rs. 247.35. The total number of shares traded during the day was 38021 in over 1602 trades.

The stock hit an intraday high of Rs. 248.15 and intraday low of 240.4. The net turnover during the day was Rs. 9276288.

Source : Equity Bulls

Keywords