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Wilmar Sugar Holdings invests additional Rs 783.96 crore in Shree Renuka Sugars

28 Jul 2017 Evaluate

Wilmar Sugar Holdings (WSH), Singapore has made an additional investment of Rs 783.96 crore in Shree Renuka Sugars (SRSL) for the purpose of up-front repayment and settlement of part of the Debts and to fund working capital requirements of SRSL.

SRSL has made a Preferential Issue of up to 50,00,00,000 0.01% Compulsorily Convertible Preference Shares (CCPS) of Rs 16.27 each, at par, to WSH. The investment is subject to the successful completion of a debt restructuring package.

The company’s legal advisors are Crawford Bayley & Co. and Khaitan & Co. with IMAP India as the financial advisor. Edelweiss Financial Services is the sole financial advisor for Wilmar with legal advice from Trilegal. IDBI Capital Market Services is acting as an advisor to the banks.



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