Company news

The allotment committee of the board of directors of Amtek India has allotted 3.25 lakh equity shares at ₹103.05 a share upon the conversion of foreign currency convertible bonds worth $0.60 million out of the FCCB issue of $70 million. The Committee also allotted 97,537 equity shares at ₹103.05 a share upon conversion of FCCBs worth $0.20 million out of the FCCB issue of $130 million to bondholders. Shares of Amtek India tumbled two per cent at ₹100.60 on the BSE.

Hotel Leela Venture has informed the exchanges that its lenders have restructured the debts under the Corporate Debt Restructuring (CDR) mechanism effective from January 2012. The total debt of the company as on June 30 was about ₹5,000 crore, of which about ₹4,000 crore was from the CDR lenders. Meanwhile, SBI has informed that of the 17 CDR lenders, 14 with exposure of about 97 per cent of the total CDR debt, have assigned the debt in favour of JM Financial Asset Reconstruction Co Pvt Ltd on June 30. The CDR Empowered Group of the company has approved the exit of Hotel Leela from CDR.

Future Market Networks Ltd has entered into a memorandum of understanding to acquire land admeasuring 11,156.93 sq mt along with a shopping mall thereon of about 4,00,000 sq ft situated at Ujjain, Madhya Pradesh for ₹37.51 crore. The stock on Wednesday ended at ₹14, a gain of 3.24 per cent on the BSE.