3i Infotech up 8%, allots 1.7 cr preference shares to DBS

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Moneycontrol Bureau

Shares of 3i Infotech climbed more than 8 percent intraday Thursday after allotting preference shares to DBS Bank as per corporate debt restructuring (CDR) plan.

"Pursuant to terms of master restructuring agreement between CDR lenders and 3i Infotech, the company has allotted 1,69,70,618 equity shares at a conversion price of Rs 19.74 on a preferential basis to DBS Bank on October 7," the IT company said in its filing.

Additionally, on October 6, 3i Infotech also allotted 40,016 equity shares against conversion of the FCCBs of principal amount of USD 13,000.

At 10:25 hours IST, the scrip of 3i Infotech was quoting at Rs 4.21, up Rs 0.18, or 4.47 percent on the BSE.Posted by Sunil Shankar Matkar