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GMR Infrastructure‘s subsidiary GMR Chhattisgarh Energy Ltd has concluded the strategic debt restructuring plan (SDR) through allotting shares to all the lenders in question.
GMR Infrastructure has said in a BSE filing that “GMR Chhattisgarh Energy Ltd (GCEL), a subsidiary of GMR Infrastructure Ltd (GIL), has announced that the consortium of lenders of GCEL has adopted strategic debt restructuring plan (SDR), as provided under the scheme permitted by the RBI.”
GMR has said that “Accordingly, GCEL has allotted shares to all the lenders. As per the SDR scheme, out of the total outstanding debt (including accrued interest) of Rs 8,800 crore, debt to the extent of Rs 2,992 crore have been converted into equity by which the consortium lenders would have 52.4 percent shareholding and the balance 47.6 percent would be held by GMR.”
