IVRCL share price soared as much as 11 per cent in the early trade on Monday after the debt-laden infrastructure firm decided to split its engineering procurement construction (EPC) and assets business land and Build Operate Transfer (BOT) to float two separate companies.
In a BSE filing, the company said the board has decided to convene a shareholders meeting to approve the conversion of part of the debt into equity shares of the company pursuant to invocation of strategic debt restructuring by joint lenders forum.
At 10.04 am, the share price of IVRCL was trading 5.44 per cent up at Rs 9.69. The scrip opened at Rs 9.50 and had touched a high and low of Rs 10.20 and Rs 9.50, respectively, in trade so far. Sensex was up 62….