Wilmar International, co-promoter in Shree Renuka, is reportedly planning to invest $120 million in the Indian sugar company. The deal will help the company in bringing down its debt and going ahead with restructuring.
The funds will be infused into the company through convertible debentures, and via fresh equity, there will be no open offer. Meanwhile, the pricing of the investment is yet to be worked on. In this regard, the company's board is expected to meet on July 27, where the proposed investment and a debt restructuring plan will be considered.
Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world.
Company Name | CMP |
---|---|
Shree Renuka Sugar | 42.70 |
Bajaj Hindusthan Sug | 30.62 |
Triveni Engg. & Inds | 324.70 |
Balrampur Chini Mill | 366.80 |
Dalmia Bharat Sugar | 362.15 |
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