RattanIndia Power Ltd on Monday said it has repaid Rs 1,219 crore debt in the last 15 months, including Rs 200 crore prepayment, despite the challenges posed by the COVID-19.
"During the last 15 months, RPL has repaid the debt of Rs. 1,219 crore to lenders, including Rs 200 crores as prepayment, even in the face of challenges posed by the pandemic," the company said in a BSE filing.
The company's current debt position could not be immediately ascertained.
The company also informed the bourses about the recent intimation to exchanges by Vistra ITCL (India) Ltd (Vistra) dated June 8, 2021, regarding the security pledge creation on 43,03,24,169 equity shares of RattanIndia Power Ltd held by RR Infralands Pvt Ltd, one of its promoter entities.
In this context, it clarified that the company has not taken any new debt and the security pledge has been created in compliance with its existing one-time settlement (OTS) lending facility dated December 30, 2019, whereby CCDs (Compulsory Convertible Debentures) already part of security pledge of the OTS financing facility were converted into equity shares.
Notably, the percentage and proportion of the promoters holding in terms of all securities, i.e. equity shares and CCDs, pledged in favour of Vistra - the trustee company of lenders – remains unchanged, it explained.
The promoter converted these CCDs into 43,03,24,169 equity shares at a price of Rs 10 per share on February 11, 2021, well above the then prevailing market price of Rs 2.95 per share, the company said.
The clarification is being filed for the information of the exchange and benefit of the general public, it said.
RattanIndia group is a business conglomerate with business interests in power generation and finance. RattanIndia Power Limited is developing coal-based thermal power projects Amravati and Nasik in Maharashtra, as per its website.