HFCL Infotel Ltd has informed BSE that the Company has allotted 8,67,43,116 Equity Shares of Rs 10/- each to the Financial Institution & Banks on July 08, 2009, as per details given below, in the Share Transfer and Investor Grievance (STIG) Committee meeting as authorised by the Board of Directors in their Meeting held on May 05, 2009.
1. Name of the Bank / Financial Institution: Industrial Development Bank of India Ltd (IDBI)
- No. of shares to be allotted: 5,73,98,531
- Amt. per Share: Rs 10.00
2. Name of the Bank / Financial Institution: Life Insurance Corporation of India (LIC)
- No. of shares to be allotted: 1,07,72,205
- Amt. per Share: Rs 10.00
3. Name of the Bank / Financial Institution: Oriental Bank of Commerce (OBC)
- No. of shares to be allotted: 1,08,06,054
- Amt. per Share: Rs 10.00
4. Name of the Bank / Financial Institution: ING Vysya Bank Ltd (ING)
- No. of shares to be allotted: 43,45,838
- Amt. per Share: Rs 10.00
5. Name of the Bank / Financial Institution: State Bank of Patiala (SBOP)
- No. of shares to be allotted: 34,20,488
- Amt. per Share: Rs 10.00
Aforesaid allotment is in accordance with the in-principle approval granted by the Stock Exchanges for issue of the 8,67,43,116 equity shares to be issued to the Financial Institution and Banks consequent to the conversion of Optionally Fully Convertible Debentures (OFCDs) and pursuant to the Corporate Debt Restructuring (CDR) Package approved by CDR Cell.