Infotech Enterprises to convert 2724000 CCPS

Infotech Enterprises Ltd has announced that the GA Global Investments Ltd, holder of Compulsory Convertible Preferential Shares (CCPS) in the Company, has, in pursuance of the terms of issue thereof, exercised the option to convert 27,24,000 CCPS to an equal number of equity shares of Rs 5 each at a premium of Rs 355 each. The CCPS were allotted on July 06, 2007 under preferential issue basis.

The stock closed the day at Rs.98.20, up by Rs.0.80 or 0.82%. The stock hit an intraday high of Rs.102.80 and low of Rs.97.20.

The total traded quantity was 827 compared to 2 week average of 2566.

Source : Equity Bulls

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