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The Board of Directors of Lanco Infratech Ltd today approved allotment of 5,45,74,639 equity shares of Re 1/- each at an issue price of Rs 6.23 per share to ICICI Bank Limited, as per the corporate debt restructuring package approved for the company.
Lanco, in a statement, informed the BSE that the allotment was made on preferential basis under Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
The Paid-up Share Capital of the Company, after this allotment to ICICI Bank, a CDR lender, stands at Rs 246.23 crore.
The equity shares allotted to ICICI Bank Limited shall be locked-in for a period of one year in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, the statement added.
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