JLF approves SDR Conversion package of IVRCL Ltd

The State Bank of India, Monitoring Institution acting on behalf of the lenders has informed IVRCL Ltd that JLF at the meeting held on February 23, 2016 have approved the SDR conversion package and that the Lenders will convert part of the debt of the Company into equity, in one or more tranches, at the price of Rs. 8.765/- per equity share of face value of Rs. 2/- each, enabling the lenders to collectively hold 51% or more of the total share capital of the Company, pursuant to provisions of SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2015 read with RBI Circular on SDR.

Shares of IVRCL LTD was last trading in BSE at Rs.7.02 as compared to the previous close of Rs. 7.07. The total number of shares traded during the day was 171111 in over 271 trades.

The stock hit an intraday high of Rs. 7.32 and intraday low of 6.99. The net turnover during the day was Rs. 1216777.

Source : Equity Bulls

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