NCC issues shares to AVSR holdings

Hyderabad: Infrastructure major NCC Limited on Monday issued 92 lakh equity shares of Rs 2 face value to AVSR Holdings Private Limited, one of the promoters of the company.

The infra major issued 92 lakh convertible warrants of Rs 119.37 each (each warrant convertible into one equity share of Rs 2 each at a premium of Rs ll7.37) on preferential basis to AVSR Holdings which remitted the application money of Rs 27.45 crore (being 25 per cent of the issue price) at the time of allotment of warrants.

The company received balance amount of Rs 82.36 crore (being 75 per cent of the issue price) from AVSR Holdings.

Following this, the Executive Committee of the company's Board at its meeting held on Monday issued the equity shares. Post the allotment, the paid-up capital of the company has increased to Rs l2l.97 crore.