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Diamond Power lenders approve Rs 1,200 cr infusion under SDR

"The company would like to inform its shareholders that lenders in their meeting in-principally agreed, subject to approvals of various authorities, towards the proposal received from CKP Group to infuse Rs 1,200 crore under SDR scheme," Diamond Power Infrastructure said in a BSE filing.

March 14, 2017 / 11:35 AM IST
Electricity, gas, water supply growth demonstrate an encouraging recovery by 4.4 percent.

Electricity, gas, water supply growth demonstrate an encouraging recovery by 4.4 percent.

 
 
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Diamond Power Infrastructure today said its lenders have in principally agreed to a proposal from CKP Group to infuse Rs 1,200 crore under Strategic Debt Restructuring (SDR) scheme.
"The company would like to inform its shareholders that lenders in their meeting in-principally agreed, subject to approvals of various authorities, towards the proposal received from CKP Group to infuse Rs 1,200 crore under SDR scheme," Diamond Power Infrastructure said in a BSE filing.
Earlier this month, Diamond Power Infrastructure said its shareholders have approved the proposal to convert Rs 2,398
crore debt into equity and optionally convertible redeemable preference shares (OCRPS).Shares of the company were trading 4.95 percent higher at Rs 42.40 on BSE.

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