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By EquityPandit

Diamond Power receives shareholders approval to convert debt into equity

March 7, 2017

The shareholders of Diamond Power Infrastructure have provided their approval to the proposal of converting Rs 2,398 crore debt into equity and optionally convertible redeemable preference shares (OCRPS).

The company has said in a BSE filing that the special resolution to convert the debt of Rs 855 crore and Rs 1,543 crore into equity shares and OCRPS under strategic debt restructuring (SDR) was passed by requisite majority by the shareholders.

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