Lanco Infratech approves allotment of 54574639 shares under CDR package

The Board of Directors of the Company passed Circular Resolution on December 29, 2014 approving the allotment of 5,45,74,639 (Five Crores Forty Five Lakhs Seventy Four Thousand Six Hundred and Thirty Nine) Equity Shares of Re. 1/- (Rupee One only) each at an issue price of Rs. 6.23/- (Rupees Six and Paise Twenty Three Only) per share to ICICI Bank Limited, CDR Lender, as per CDR Package approved for the Company.

The said allotment is made on preferential basis under Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Paid-up Share Capital of the Company after the above allotment stands at Rs. 246,23,79,559/-(Rupees Two Hundred and Forty Six Crores Twenty Three Lakhs Seventy Nine Thousand Five Hundred and Fifty Nine only) comprising of 246,23,79,559 Equity Shares of Re. 1/- each. The Equity Shares allotted to ICICI Bank Limited shall be locked-in for a period of one year in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Shares of LANCO INFRATECH LTD. was last trading in BSE at Rs.6.06 as compared to the previous close of Rs. 6.1. The total number of shares traded during the day was 744122 in over 1561 trades.

The stock hit an intraday high of Rs. 6.25 and intraday low of 5.97. The net turnover during the day was Rs. 4522287.

Source : Equity Bulls

Keywords