Shriram EPC is seeking shareholders’ approval to offer equity shares against the funded interest term loan (FTIL) to a total amount of Rs 313.30 crore, as part of its corporate debt restructuring (CDR) package.
As per the CDR empowered group approval on August 20, 2014, and the master restructuring agreement dated September 20, 2014, executed by the company, CDR lenders have an option to convert restructured facilities into equity shares of the company during the repayment period of the loan. Based on this, CDR lenders have evinced interest to convert their FITL sum into equity.
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.
