RattanIndia Power said on Tuesday that its board has approved a debt restructuring proposal which includes issuance of non-convertible debentures worth up to Rs 7,200 crore to investors on private placement basis.
“In accordance with the terms of the Binding Settlement Proposal, the Board in this meeting approved (steps) with respect to composite debt restructuring proposal,” a company statement said.
The company will issue non-convertible debentures to investors on private placement basis during a period of one year from the date of receipt of approval from shareholders in one or more tranches for an aggregate value of up to Rs 7,200 crore.
It would also issue 25 crore Cumulative Redeemable Pre…
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