Unity Infraproj issues Rs 82.63 crore shares to lenders, promoters

NEW DELHI: Unity Infraprojects has issued shares worth Rs 82.63 crore to lenders and promoters under its corporate debt restructuring ( CDR) plan.

The decision was taken by its Board of Directors in a meeting today.

"The Board of Directors of the company at its meeting held on July 6, 2015, inter alia, has ...considered, issue and allotted 2,64,20,784 equity shares of Rs 2 each at a price of Rs 27.52 per share to Promoters/promoters group companies pursuant to CDR Scheme," the company said in a BSE filing.

The board also gave nod to allotment of 36,08,738 equity shares of Rs 2 each at a price of Rs 27.52 per share to CDR Lenders pursuant to CDR scheme, it added.

The company said its board also "considered conversion of interest on FITL (Funded Interest Term Loan) into equity for the period from March 1, 2015 to March 31, 2016".

Shareholders nod would be sought through postal ballot, the company said adding the board also "recommended to the general body to approve, ratify and confirm the Corporate Debts Restructuring Scheme through postal ballot".

The shares of the company closed at Rs 13.67 per scrip on the BSE, up 2.63 per cent.