Shriram EPC’s promoter Shriram Industrial Holdings (SIHL) has increased its shareholding in the company to 69.87% from 41.33%, mostly as part of the scheme of the Corporate Debt Restructuring (CDR) package by and between the company and its CDR lenders.
SIHL, which had 41.33% stake in the company at the end of September, 2014, has recently added 3.2 crore shares in Shriram EPC at a price of Rs 50 including a face value of Rs 10, for an aggregate consideration of around Rs 160 crore, as part of the CDR scheme.
This has increased the promoters’ stake in the company to 65.92%. It has acquired another One crore shares in Shriram EPC, which has increased the promoters' share holding by 3.95% to 69.87%, as against the 65.92% with the acquisition of 3.95% executed on November 15. The buy value for the One crore shares were Rs 50 crore.
Shriram EPC is one of the leading service providers of the integrated designs, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas.