IL&FS Engineering & Construction Company Ltd approves allotment of 99,62,407 Equity Shares

Pursuant to the Special Resolution passed by the Members of IL&FS Engineering & Construction Company Ltd by way of Postal Ballot and E-voting result of which was declared on March 20, 2017 and pursuant to the in-principle approval under Regulation 28(1) of the Listing Regulations granted by BSE Limited vide its letter dated March 3, 2017 and National Stock Exchange of India Limited vide its letter dated March 14, 2017, the Executive Committee of the Board of Directors, duly authorized by the Board, has allotted 99,62,407 equity shares at a price of Rs 53.20 per share (face value: Rs 10/- and premium: Rs 43.20/-) to Infrastructure Leasing and Financial Services Limited (Promoter) (49,81,203 shares) and IL&FS Financial Services Limited (Promoter Group) (49,81,204 shares) on preferential basis for raising of Rs 530 million (approx.) from the issue.

Shares of IL&FS ENGINEERING AND CONSTRUCTION COMPANY LTD. was last trading in BSE at Rs.55.4 as compared to the previous close of Rs. 55.4. The total number of shares traded during the day was 8492 in over 133 trades.

The stock hit an intraday high of Rs. 56.5 and intraday low of 55.4. The net turnover during the day was Rs. 475542.

Source : Equity Bulls

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