IL&FS Transportation Networks Ltd Board approves Rights Issue to raise Rs. 750 crores

The Board of Directors of IL&FS Transportation Networks Ltd at its meeting held on August 26, 2015, the proposal for issue of equity shares of the face value of Rs. 10/- each of the Company to the existing shareholders of the Company on a rights basis ("Rights Issue") upto Rs. 750 Crores was approved subject to all applicable statutory and regulatory approvals.

The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue and other matters shall be decided in consultation with the Lead Managers to the Rights Issue.

Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs.88.8 as compared to the previous close of Rs. 89.95. The total number of shares traded during the day was 90150 in over 1243 trades.

The stock hit an intraday high of Rs. 93.5 and intraday low of 88.2. The net turnover during the day was Rs. 8169386.

Source : Equity Bulls

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