Infrastructure term lender IFCI Ltd on Thursday approved allotment of preferential shares to the government in lieu of capital infusion of Rs 100 crore in the company.
The decision was taken at extraordinary general meeting (EGM) of the shareholders of the company, IFCI said in a regulatory filing.
The shareholders approved issuance of equity shares of Rs 100 crore by way of preferential allotment to the government and authorised the board for the same.
IFCI stock closed 12.8 per cent down at Rs 10.90 on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Thu, February 24 2022. 23:30 IST