IVRCL Ltd, a Hyderabad based company, spurted Friday after the company announced that it has allotted shares to lenders in accordance to the restructuring agreement.
Thursday, IVRCL has issued 24.15 million shares of Rs 2/share, at issue price of Rs 24.39/share to CDR lenders as the restructuring agreement, the company said in a statement to the stock exchanges after market hours.
The allotment is towards conversion of the 4th tranche of FITL into equity, for the quarter ended June 30,2015.
At 11:40AM, shares of IVRCL advanced 2.7% to Rs 12.11 on the Mumbai stock exchange.
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