Lanco Infratech Ltd approves allotment of shares to IDFC Bank Ltd

Pursuant to the approval accorded by Shareholders on 28th February, 2016, the Board of Directors of Lanco Infratech Ltd on 14th March, 2017 passed Resolutions for allotment of Equity Shares of Re.1/- each at a price of Rs.6.23/- per Equity Share to IDFC Bank Ltd.

51,59,77,343 Equity Shares upon conversion of Compulsorily Convertible Debentures (CCDs) of Rs.321,45,38,850/- and 4,87,59,859 Equity Shares upon conversion of interest of Rs.30,37,73,921 (Net of TDS) on above referred Compulsorily Convertible Debentures (CCDs).

Consequent to the above allotment(s), the Paid-up Share Capital of the Company stands increased from Rs.274,93,26,655/- divided into 274,93,26,655 Equity Shares having face value of Re.1/- each to Rs.331,40,63,857/- divided into 331,40,63,857 Equity Shares having face value of Re.1/- each. This is for your information.

Shares of LANCO INFRATECH LTD. was last trading in BSE at Rs.3.61 as compared to the previous close of Rs. 3.62. The total number of shares traded during the day was 1203320 in over 444 trades.

The stock hit an intraday high of Rs. 3.8 and intraday low of 3.57. The net turnover during the day was Rs. 4355722.

Source : Equity Bulls

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