IVRCL has allotted 1,07,54,015 equity shares of Rs 2 each on March 31 to Corporation Bank, a corporate debt restructure lender. Corporation Bank is among the group of lenders who had signed the master restructuring agreement. This allotment is towards conversion of fixed interest term Loan (FITL) into equity for the period from December 1, 2013 to December 31, 2014.
The Hyderabad-based infrastructure company had earlier allotted shares to ICICI Bank as a part of the CDR package.
Further, IVRCL has appointed Hima Bindu Myneni, a practising chartered accountant, as a woman independent director on the board, as per amended clause 49 of the listing agreement.
IVRCL is engaged into engineering procurement and construction (EPC) activities in India. It conducts operations in 5 sectors namely Water and Environment, Transportation, Buildings, Power and Industrial Structures.
