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Lanco Infratech to issue Rs 350 crore convertible debentures to IDFC Bank

31 Dec 2015 Evaluate

Lanco Infratech has received its board’s approval to issue Compulsorily Convertible Debentures (CCDs) worth about Rs 350 crore on preferential basis to IDFC Bank. The board of directors of the company decided to issue CCDs of face value of Rs 10 each at par on preferential basis to IDFC Bank. This is subject to necessary approvals.

Earlier, the company had concluded a corporate debt restructure (CDR) with a clutch of banks, restructuring about Rs 6,500 crore in loans and Rs 3,500 crore non-fund based loans. When the CDR package was concluded, the IDFC Bank did not participate in the process

Lanco Infratech is the leading integrated infrastructure conglomerate with global footprints having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure.

Peers
Company Name CMP
Larsen & Toubro 3927.05
Rail Vikas Nigam 269.60
NCC 151.30
KEC International 561.70
Kalpataru Projects 1169.80
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