Shriram EPC Ltd allots shares to CDR lenders

The Board of Directors of the Company at its meeting held on June 26, 2015, has discussed and approved the allotment of 2,29,26,016 equity shares of face value of Rs. 10 each (with a premium of Rs. 22.98 each) of the Company to CDR Lenders ON CONVERSION OF FUNDED INTEREST TERM LOAN (FITL), on preferential basis pursuant to corporate debt restructuring scheme.

The Board approved the allotment of 22983770 equity shares of face value of Rs. 10 each (with a premium of Rs. 30.05 each) of the Company to CDR Lenders on conversion of funded interest term loan (FITL), on preferential basis pursuant to corporate debt restructuring scheme.

The Board also approved the allotment of 10507836 equity shares of face value of Rs. 10 each (with a premium of Rs. 27.02 each) of the Company to the Promoter - M/s. Shriram Industrial Holdings Limited, on preferential basis.

The Board also approved proposal seeking approval for obtaining the Consent of the Shareholders through the process of Postal Ballot Under Section 110 and Section 102 of the Companies Act, 2013 and appointment of Scrutiniser for the Postal Ballot.

Shares of SHRIRAM EPC LTD. was last trading in BSE at Rs.31.3 as compared to the previous close of Rs. 31.45. The total number of shares traded during the day was 10525 in over 165 trades.

The stock hit an intraday high of Rs. 31.5 and intraday low of 29.15. The net turnover during the day was Rs. 321975.

Source : Equity Bulls

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