3i Infotech up 15%, approves debt realignment scheme

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26 Aug, 2025 12:21

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Moneycontrol BureauShares of 3i Infotech surged 15 percent intraday Tuesday. The company board has approved the debt realignment scheme and restructuring of foreign currency convertible bonds (FCCBs) on Monday.Debt realignment scheme will help to realign/ restructure outstanding debt of the company and its subsidiaries from the creditors who are the part of joint lenders' forum.As per the scheme, the company will decide on waiver of interest upto March 31, 2016. It will convert 35 percent of principal component of debt to non-convertible redeemable preference shares, convert 40 percent of debt in to equity and retain balance 25 percent debt as loan with elongated repayment schedule and revised interest rates.Restructuring of FCCBs includes, waiver of the accrued and unpaid interest in respect of the existing bonds upto March 31, 2016 and waiver of portion of the principal amount of the existing bonds.In also includes, conversion of a portion of the principal amount of the existing bonds in to equity shares at a revised conversion price and exchange a portion of the principal amount of existing bonds with new FCCBs to be issue for a fixed tenure and interest rate. At 09:44 hrs 3i Infotech was quoting at Rs 5.78, up Rs 0.51, or 9.68 percent on the BSE.Posted by Rakesh Patil