The Join Lenders Forum yesterday approved strategic debt restructuring (SDR) for Unity Infraprojects. Consortium of 21 banks includes SBI, ICICI Bank, Bank of Baroda, IDBI Bank & Axis Bank. Madhav Nadkarni, CFO, Unity Infraprojects in an interview to CNBC-TV18 said with this approval certain portion of debt will be converted into equity as per RBI circular and the lenders would get equity stake of around 51-74 percent.For more, watch video
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