3i Infotech Ltd approves allotment of shares to Lenders Under Debt Realignment Scheme Package

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, 3i Infotech Ltd has allotted 2,79,15,282 (Two Crore Seventy Nine Lakh Fifteen Thousand Two Hundred Eighty Two) equity shares of Rs. 10/- each and 4,78,57,000 (Four Crore Seventy Eight Lakh Fifty Seven Thousand) 0.10% Cumulative Non-Convertible Redeemable Preference Shares of face value Rs. 5/- each at par ('Class B Preference Shares') on a preferential basis to The Jammu and Kashmir Bank Ltd, Bank of India and United Bank of India upon their accession to Supplemental MRA on March 24, 2017.

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

Shares of 3I INFOTECH LTD. was last trading in BSE at Rs.5.05 as compared to the previous close of Rs. 4.91. The total number of shares traded during the day was 412982 in over 327 trades.

The stock hit an intraday high of Rs. 5.12 and intraday low of 4.85. The net turnover during the day was Rs. 2053851.

Source : Equity Bulls

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