Gammon India Ltd allots 151054133 shares

Gammon India Ltd allots 151054133 sharesThe Securities Allotment Committee of Directors of Gammon India Ltd at their meeting held on December 29, 2015, has allotted 15,10,54,133 equity shares of F.V. Rs.2/- each at a price of Rs. 11.89 per share aggregating to Rs. 179,60,33,641 to 11 (eleven) CDR Lenders on conversion of part of their outstanding loan and interest into equity shares of the Company pursuant to Notices dated December 18, 2015 & December 28, 2015 for conversion of debt Into equity shares under Strategic Debt Restructuring Package of the Company issued by ICICI Bank in its capacity as a Monitoring Institution, acting on behalf of the CDR Lenders. With this allotment, the CDR Lenders collectively hold 52.55% of the total equity capital of the Company.

Shares of GAMMON INDIA LTD. was last trading in BSE at Rs.17.45 as compared to the previous close of Rs. 18. The total number of shares traded during the day was 166723 in over 475 trades.

The stock hit an intraday high of Rs. 18.25 and intraday low of 17.35. The net turnover during the day was Rs. 2931377.

Source : Equity Bulls

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