3i Infotech allots 1444747 shares under CDR Package

3i Infotech Ltd has on December 9, 2014 allotted 14,44,747 equity shares of Rs. 10 each at a conversion price of Rs. 19.74 on a preferential basis to Standard Chartered Bank, one of the CDR lenders towards sacrifice calculated as per the Master Restructuring Agreement (MRA).

The above allotment is pursuant to the terms of the MRA dated March 30, 2012 as amended from time to time entered into between the lenders subscribing to the CDR package (CDR lenders) and the company.

Shares of 3I INFOTECH LTD. was last trading in BSE at Rs.7.88 as compared to the previous close of Rs. 8.17. The total number of shares traded during the day was 234754 in over 1096 trades.

The stock hit an intraday high of Rs. 8.33 and intraday low of 7.75. The net turnover during the day was Rs. 1880574.

Source : Equity Bulls

Keywords