IBEF invests in Intec Capital

Intec Capital today said it has signed agreements with India Business Excellence Fund-II (IBEF-II) and India Business Excellence Fund-IIA (IBEF-IIA) for getting funds from the latter.
 
Intec will issue 6,66,202 equity shares and 2,74,122 compulsorily convertible preference shares to IBEF-II.

ICICI Securities Ltd acted as the exclusive financial advisor to Intec Capital.

Amarchand & Mangaldas & Suresh A Shroff & Co acted as the legal advisor to IBEF II and IBEF IIA. Udwadia Udeshi & Argus Partners acted as the legal advisor to the Company.

Intec shares were trading at Rs 90, which was 5.26% lower than Monday's close.