Infrastructure major Punj Lloyd has received its shareholders’ approval for taking term loans up to Rs 1,500 crore with the condition that the lenders can get the debt converted into equity shares in case of a default. The shareholders’ nod was given to the company in an extraordinary general meeting of the members held earlier.
Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.
