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The board of directors of ABG Shipyard has allotted 64,076 fully paid-up equity shares of ₹10 each at a price of ₹275.92 to the CDR lenders (Andhra Bank 5,739 shares and South India Bank 58,337 shares) in accordance with the CDR package, on preferential basis. The company had earlier allotted 51.06 lakh 0.01 per cent compulsory convertible preference shares of ₹10 each to CDR lenders. The preference shares have to be fully paid at the time of allotment by the lenders (Lakshmi Vilas Bank, Bank of India, State Bank of India and Oriental Bank of Commerce) and have a lock-in period. Shares of ABG Shipyard closed at ₹146.05, down 1.9 per cent on the NSE.
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