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.

Related News

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.

Read more on:   
|
|

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

Read More

Icra places 14 auto component makers under watch

Rating agency Icra today placed 14 auto component manufacturers on "rating watch with developing implications", following lockout at Maruti Suzuki's ...

Recommended for you

Quick Links

Market News

Markets snap two week winning streak; defensives weigh

Broader markets outperform as investors buy mid-cap and small-cap shares at attractive valuations

TCS scrip: Analysts positive despite revenue miss

Management confidence on achieving strong growth in FY16 a key reason for bullishness

VRL Logistics IPO subscribed 74 times

Issue sees more than 1.2 billion bids worth Rs 25,000 crore, on strong demand from all investor categories

Copper to remain subdued on rising production, falling demand

LME inventories on the rise since last fall of almost 200,000 tonnes last year

MFs shuffle portfolios; ITC, TCS & ONGC out of top picks

HDFC Bank pips ICICI Bank, emerges as most sought after stock

 

Back to Top