Business Standard

3i Infotech surges 27% post shares allotment under CDR package

Allotted 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

SI Reporter  |  Mumbai 

3i Infotech has surged over 10% at Rs 12.30, extending its past four days rally, after allotting 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

On June 29, IT consulting and software firm has allotted around 89 million shares to ICICI Bank. This includes 17.7 million shares allotted to the bank on conversion of 70 million preference shares as agreed in the package.

In March, the lenders of had agreed to the debt restructuring proposals, which included conversion of secured and unsecured debt to equity and grant of additional term loans of Rs 75 crore.

The stock has rallied 27% in past five trading sessions on the Bombay Stock Exchange, compared to less than 2.5% rise in the benchmark Sensex and 4% gain in small-cap index.

The counter has seen huge volumes today, with a combined 16.88 million shares already changed hands so far, against an average sub 5 million that were traded daily in past two weeks.

RECOMMENDED FOR YOU

3i Infotech surges 27% post shares allotment under CDR package

Allotted 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

3i Infotech has surged over 10% at Rs 12.30, extending its past four days rally, after allotting 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

3i Infotech has surged over 10% at Rs 12.30, extending its past four days rally, after allotting 225.9 million shares to lenders under its corporate debt restructuring (CDR) package at Rs 19.74 per share.

On June 29, IT consulting and software firm has allotted around 89 million shares to ICICI Bank. This includes 17.7 million shares allotted to the bank on conversion of 70 million preference shares as agreed in the package.

In March, the lenders of had agreed to the debt restructuring proposals, which included conversion of secured and unsecured debt to equity and grant of additional term loans of Rs 75 crore.

The stock has rallied 27% in past five trading sessions on the Bombay Stock Exchange, compared to less than 2.5% rise in the benchmark Sensex and 4% gain in small-cap index.

The counter has seen huge volumes today, with a combined 16.88 million shares already changed hands so far, against an average sub 5 million that were traded daily in past two weeks.

image

LIVE MARKET

BSE 25739.32

42.88 (0.17 %)

NSE 7796.10

10.25 (0.13%)

Widgets Magazine

STOCK WATCH

Company Price() Chg(%)
PMC Fincorp 1.48 4.23
Hathway Cable 43.10 4.23
DLF 109.95 3.73
Info Edg.(India) 771.00 3.37
Gati 144.20 3.00
> More on BSE Gainers
Company Price() Chg(%)
Esab India 572.95 4.17
DLF 110.00 3.97
Ess Dee Alumin. 274.30 3.69
K P R Mill Ltd 736.35 3.16
Gati 144.35 3.00
> More on NSE Gainers
Company Price() Chg(%)
Metalyst Forg. 48.45 -5.00
Sunrise Asian 200.80 -4.97
Castex Tech 54.65 -4.96
CCL Inter 46.00 -4.47
Cairn India 141.60 -2.85
> More on BSE Gainers
Company Price() Chg(%)
Rasoya Proteins 0.20 -20.00
Shrenuj & Co. 44.85 -4.98
Castex Tech 54.80 -4.94
Guj NRE Coke 2.95 -4.84
Usha Martin 14.70 -3.61
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price