SKIL restructures businesses, surges 3.5 per cent

SKIL Infrastructure has increased paid-up equity share capital in Navi Mumbai Smart City Infrastructure (NMSCIL) and with this, NMSCIL is ceased to be a subsidiary of the company. The Board of Directors of the company at its meeting held on April 16, 2018 transacted the same.

The Board at its meeting approved to extend securities and execute relevant deeds, documents to Orange Smart City Infrastructure (OSCIPL) for the purpose of availing Term Loan facility of Rs. 725 crore (Increase from Rs. 150 crore) by them.

Currently, the company is involved in architectural and engineering activities and related technical consultancy.

Reacting to the news, the stock surged to Rs. 31.15 per share on Wednesday and on 11:40 am the stock was quoting at Rs. 30.75, up by 3.54 per cent.