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.

Read more on:    Cdr | Icici Bank | 3i Infotech
Related News

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 () package at Rs 19.74 per share.

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

In March, the lenders of 3i Infotech 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:   
|
|

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 ...

Quick Links

 

Market News

SBBJ gains after Q4 net interest income rises 33%

Bank's net interest income (NII) showed 33% year-on-year growth at Rs 741 crore in the fourth quarter.

Markets firm in noon trades

The capital goods and banking stocks are propelling the indices

Potato up 2% as demand picks up

Delivery for the April contract also traded higher by 1.17%

Muthoot Finance dips on discounted price for share sale

The company has fixed price band of Rs 155-165 per share for its proposed share sale.

India produces 7.25 MT steel in March: WSA

The country, however, clocked a 3.9% growth rate in production, while world's average growth rate was at 2.7%

Back to Top