Punjab Communications Ltd accepts OTS offer given by UP Cooperative SPinning Mills Federation Ltd

Punjab Communications Limited has accepted One Time Settlement Offer given by UP Cooperative Spinning Mills Federation Ltd. w.r.t. Debenture Bonds issued by them, amounting to Rs.22,48,08,356/- (i.e Rs.7 crore principal amount and Rs.15.48 crore interest amount subject deduction of TDS on interest amount) after placing the OTS matter in various Board Meetings and subsequent approvals of Finance Department, Govt. of Punjab as well as Department of Industries & Commerce, Govt. of Punjab.

Accordingly, Punjab Communications Limited will execute agreement with UP Cooperative Spinning Mills Federation Ltd. towards realization of OTS amount of Rs.22.48 cores as mentioned above.

Shares of PUNJAB COMMUNICATIONS LTD. was last trading in BSE at Rs. 46.50 as compared to the previous close of Rs. 48.86. The total number of shares traded during the day was 4355 in over 62 trades.

The stock hit an intraday high of Rs. 48.60 and intraday low of 46.00. The net turnover during the day was Rs. 202443.00.

Source : Equity Bulls

Keywords

PUNJABCOMMUNICATIONS INE609A01010 OTSOffer