Sanghi Industries up 5%, exits from corporate debt restructuring

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Moneycontrol Bureau

Sanghi Industries shares rallied more than 5 percent intraday Monday after the company exited corporate debt restructuring mechanism.

"Sanghi has successfully exited from corporate debt restructuring mechanism after making repayment of all dues to CDR lenders ahead of schedule," says the Telengana-based clinker and cement manufacturer in its filing on April 1.

The company allotted 25.64 lakh secured non-convertible debentures of Rs 1,000 each aggregating Rs 256.48 crore on private placement basis.

At 12:31 hours IST, the scrip of Sanghi Industries was quoting at Rs 65.60, up Rs 2.25, or 3.55 percent on Bombay Stock Exchange.Posted by Sunil Shankar Matkar