Moneycontrol
Last Updated : Mar 18, 2019 02:39 PM IST | Source: Moneycontrol.com

A2Z Infra spikes 5% after co settles debt worth Rs 41 cr with Edelweiss Asset Reconstruction

ICICI Bank assigned all the rights, title and interests in the financial assistance granted by it to the company, in favour of Edelweiss Asset Reconstruction Company, which is the lender.

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A2Z Infra Engineering spiked 5 percent intraday on Friday after the company settled debt worth Rs 41 crore with Edelweiss Asset Reconstruction.

The company had availed financial assistance as term loan from ICICI Bank. The bank has assigned all the rights, title and interests in the financial assistance granted by it to the company, in favour of Edelweiss Asset Reconstruction Company, which is the lender.

"As per our books and accounts, outstanding of Edelweiss as on March 31, 2018 was Rs 177.69 crore (including interest) and the same is settled for a total settlement consideration of Rs 41 crore," A2Z Infra said in a statement to BSE.

The stock also touched upper circuit of Rs 18.05 in the morning session.

At 11:29 hrs A2Z Infra Engineering was quoting at Rs 18.05, up Rs 0.85, or 4.94 percent. It has touched an intraday high of Rs 18.05 and an intraday low of Rs 16.60.
First Published on Mar 15, 2019 11:40 am
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