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IL&FS Engineering and Construction Co Ltd files papers for rights issue-Business Standard

Thursday, 3 Apr 2014 05:32am EDT 

IL&FS Engineering and Construction Co Ltd:Has filed initial papers with market regulator Sebi to raise 3.00 Bln Indian Rupees through rights issue-Business Standard.Under a rights issue, stocks are issued to existing investors of an entity as per their holding at pre-determined price and ratio.IL&FS Engineering and Construction plans to utilise the funds from the issue towards redemption of preference shares, repayment/pre-payment of certain loans availed by the company and to meet issue expenses.Edelweiss Financial Services and IL&FS Capital Advisors are the lead managers to the issue.Karvy Computershare would be the registrar to the issue. 

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