Stocks

Debt recast may boost 3i Infotech

| Updated on January 22, 2018 Published on December 07, 2015

83i col.eps

The 3I Infotech board on Monday approved a realignment scheme with its creditors. The proposal includes waiver of interest up to March 31, 2016, conversion of about 35 per cent of the principal component of the debt to non-convertible, redeemable, preference shares and 40 per cent into equity shares at face value ₹10 and retention of the balance 25 per cent as loan with an elongated repayment schedule. Shares of 3i Infotech are likely to see buying traction.

Published on December 07, 2015
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