The announcement was made after market hours on Tuesday, 17 July 2012.

Meanwhile, the BSE Sensex was up 93.43 points, or 0.55%, to 17,198.73.

On BSE, 5.74 lakh shares were traded in the counter as against an average daily volume of 2.28 lakh shares in the past one quarter.

The stock hit a high of Rs 9.50 and a low of Rs 8.65 so far during the day. The stock had hit a 52-week high of Rs 16.15 on 1 August 2011. The stock had hit a 52-week low of Rs 7.01 on 20 December 2011.

The stock had outperformed the market over the past one month until 17 July 2012, gaining 6.48% compared with the Sensex's 0.92% rise. The scrip had, however, underperformed the market in past one quarter, falling 16.11% as against 1.46% fall in the Sensex.

The mid-cap company has an equity capital of Rs 1827.19 crore. Face value per share is Rs 10.

GTL Infrastructure announced that its board has allotted 44.63 lakh one percent compulsorily convertible debentures (CCDs) and 2.02 lakh zero coupon CCDs of Rs 100 each to corporate debt restructuring (CDR) lenders (Life Insurance Corporation of India and Dena Bank) and 44.91 lakh zero percent CCDs of Rs 100 each to promoters, aggregating 91.56 lakh CCDs.

The said allotment of CCDs is in terms of the letter of approval dated 23 December 2011 issued by the CDR Empowered Group (EG) approving the restructuring proposal of the company under CDR system.

Consequently in terms of the CDR Scheme the promoters have brought in the entire amount of Rs 90.16 crore towards equity of the company.

The promoter group has also contributed in the subsidiary of the company, Chennai Network Infrastructure (CNIL). The promoter group infused Rs 82.72 crore in CNIL towards equity contribution and Rs 758.53 crore by way of conversion of unsecured loans into equity (via GTL Ltd).

Thus, the promoter and promoter group has contributed Rs 931.41 crore towards equity of both GTL Infrastructure and CNIL together, thereby expressing their confidence in the company and its subsidiary.

GTL Infrastructure reported net loss to Rs 76.96 crore in Q4 March 2012 as against net loss of Rs 41.79 crore in Q4 March 2011. Net sales rose 0.52% to Rs 139.83 crore in Q4 March 2012 over Q4 March 2011.

GTL Infrastructure builds, owns, operates and maintains passive network infrastructure (towers) to cater to the needs of cellular telecom operators.