3i Infotech Ltd allots shares to Canara Bank, EXIM Bank

Pursuant to the terms of the Supplemental Master Restructuring Agreement dated June 29, 2016 ('Supplemental MRA') to the Master Restructuring Agreement dated March 30, 2012, the Company has allotted 4,70,84,567 (Four Crore Seventy Lakh Eighty Four Thousand Five Hundred Sixty Seven) equity shares of Rs. 10/- each and 7,81,83,606 (Seven Crore Eighty One Lakh Eighty Three Thousand Six Hundred Six) 0.10% Cumulative Non-Convertible Redeemable Preference Shares of face value Rs. 5/- each ('Class B Preference Shares') at par on a preferential basis to Canara Bank - Mumbai and Export - Import Bank of India upon their accession to Supplemental MRA on September 26, 2017.

The allotment of equity shares is subject to the lock-in requirements as stated in Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time.

Shares of 3I INFOTECH LTD. was last trading in BSE at Rs.3.8 as compared to the previous close of Rs. 3.87. The total number of shares traded during the day was 582568 in over 195 trades.

The stock hit an intraday high of Rs. 3.94 and intraday low of 3.76. The net turnover during the day was Rs. 2225172.

Source : Equity Bulls

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