Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.