Torrent Power is planning to raise debt with option for lenders to convert that loan or financial assistance into equity upon occurrence of certain conditions. In this regard, the company’s shareholders approved the special resolution for availing of the financial assistance (loans or debt) having an option available to the lenders for conversion of such financial assistance into equity shares of the company upon occurrence of certain events.
As per the resolution, this financial assistance can be loans, debentures or any other financial assistance categorised as loans up to an amount which would be approved by the shareholders.
