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IL&FS Engineering surges as ICICI acquires its 5.36% stake via CDR Mechanism

10 Oct 2012 Evaluate

IL&FS Engineering is currently trading at Rs. 67.00, up by 0.90 points or 1.36% from its previous closing of Rs. 66.10 on the BSE.

The scrip opened at Rs. 67.00 and has touched a high and low of Rs. 70.00 and Rs. 64.15 respectively. So far 78916 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 96.70 on 17-Oct-2011 and a 52 week low of Rs. 48.20 on 21-Aug-2012.

Last one week high and low of the scrip stood at Rs. 72.80 and Rs. 64.15 respectively. The current market cap of the company is Rs. 602.92 crore.

The promoters holding in the company stood at 29.78% while Institutions and Non-Institutions held 17.35% and 52.87% respectively.

Private Sector lender, ICICI Bank acquired around 5.36% stake in IL&FS Engineering and Construction Company, earlier known as Maytas Infra, through the CDR mechanism. ICICI, which already held 1.50% in the company, acquired the shares post restructuring through the CDR mechanism.

Maytas Infra, company promoted by Ramalinga Raju, approached the CDR cell for Corporate Debt Restructuring while the Masters Restructuring Agreement was signed in September 2010, post to which it negotiated with 5 banks and entered into One Time Settlement (OTS).

Late in the month of September, the company allotted 1.24 crore fully paid up capital equity shares to the banks under the CDR scheme at Rs 60.40 per share by converting 75 lakh 6% Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS).

 

IL&FS Engg. & Const. Share Price

28.00 0.13 (0.47%)
17-Apr-2026 16:59 View Price Chart
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