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Lanco Infratech Ltd has allotted 26,51,74,603 (Twenty Six Crores Fifty One Lakh Seventy Four Thousand Six Hundred and Three only) equity shares of Re 1 each at a price of Rs 6.30 by conversion of promoters’ contribution of Rs 167.06 crore into equity shares of the company.
The diversified infrastructure company has informed BSE that this was pursuant to the approval accorded by shareholders during the Annual General Meeting of the Company held on September 28, 2015.
The Board of Directors on September 30 had allotted these shares following conversion of promoters’ contribution of Rs 167 crore made last year.
Following this move, the paid-up equity capital of the company stands at Rs 274.93 crore.
The company shares were trading at Rs 5.97, up 10 per cent at BSE during the day.
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