IL&FS Engineering and Construction Company Ltd redeems preference shares worth Rs. 53 crores

IL&FS Engineering and Construction Company Ltd has redeemed Preference Shares amounting to Rs 530 million out of the proceeds of preferential issue of 99,62,407 equity shares to its Promoter / Promoter Group

- 50,00,000 6% Optionally Convertible Cumulative Redeemable Preference Shares of Rs 100 each amounting to Rs 500 million; and

- 3,00,000 6% Cumulative Redeemable Preference Shares of Rs 100 each amounting to Rs 30 million.

Accordingly, after the aforesaid redemption, the Preference Share Capital of the Company stands at Rs 397.50 million.

Shares of IL&FS ENGINEERING AND CONSTRUCTION COMPANY LTD. was last trading in BSE at Rs.55.85 as compared to the previous close of Rs. 57.85. The total number of shares traded during the day was 19400 in over 205 trades.

The stock hit an intraday high of Rs. 58 and intraday low of 55.7. The net turnover during the day was Rs. 1092774.

Source : Equity Bulls

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