The announcement was made after trading hours yesterday, 7 December 2015.

Meanwhile, the BSE Sensex was down 3.12 points, or 0.01%, to 25,526.99.

On BSE, so far 22.88 lakh shares were traded in the counter, compared with an average volume of 12.89 lakh shares in the past one quarter.

The stock hit a high of Rs 6.05 and a low of Rs 5.53 so far during the day. The stock hit a 52-week high of Rs 10.20 on 29 December 2014. The stock hit a record low of Rs 2.18 on 25 May 2015.

The stock had outperformed the market over the past one month till 7 December 2015, rising 35.13% compared with 2.80% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 82.99% as against Sensex's 2.56% rise.

The small-cap company has an equity capital of Rs 636.15 crore. Face value per share is Rs 10.

3i Infotech said that its board approved the proposal for debt realignment scheme for its creditors and restructuring of the Foreign Currency Convertible Bonds (FCCBs).

The proposed Debt Realignment Scheme (DRS) includes waiver of interest up to 31 March 2016, conversion of about 35% of the principal component of the debt to non-convertible, redeemable, preference shares and 40% into equity shares at face value Rs 10 and retention of the balance 25% as loan with an elongated repayment schedule.

Restructuring of FCCBs includes waiver of the accrued and unpaid interest in respect of the existing bonds upto 31 March 2016 and waiver of portion of the principal amount of the existing bonds. In also includes, conversion of a portion of the principal amount of the existing bonds in to equity shares at a revised conversion price and exchange a portion of the principal amount of existing bonds with new FCCBs to be issue for a fixed tenure and interest rate.

On consolidated basis, 3i Infotech reported net loss of Rs 92.31 crore in Q2 September 2015, higher than net loss of Rs 74.02 crore in Q1 June 2015. Net sales rose 6.64% to Rs 292.85 crore in Q2 September 2015 over Q1 June 2015.

3i Infotech provides a range of software and information technology (IT) solutions including packaged applications for the banking, financial services and insurance, manufacturing, contracting and retail and distribution industries.