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This Stock Trades With Gains Of 267% As The Stock Re-Lists To Give Effect To The ‘Scheme Of Arrangement'
3i Infotech in trade on October as per the BSE notification has been listed and admitted to dealings on the Exchange in the list of T Group of Securities.
The notification by the BSE said "Trading Members of the Exchange are hereby informed that effective from Friday, October 22, 2021, the equity shares of 3I Infotech Ltd. shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities.
Members are requested to note that, the above security will be a part of special pre-open session for IPO and Other category of scrips as per SEBI circular no. CIR/MRD/DP/01/2012 & CIR/MRD/DP/02/2012 dated January 20, 2012".
On the re-listing the stock gained up to day's high price of Rs. 31.45 per share, gaining 267 percent.
The company is a global provider of IT & Infrastructure services with proven global delivery capabilities, 3i Infotech has forged strategic alliances with large OEMs.
The company temporarily delisted its stock amid capital re-structuring and via the 'scheme of arrangement' with its shareholders approved by National Company Law Tribunal (NCLT). Notably, to give effect to this scheme, trading suspension in the stock was announced with effect from the end of Friday, August 27 2021.
