A2Z Infra gets nod for OTS with lending banks

22 Sep 2017

A2Z Infra Engineering has received an approval for issuance of up to 8 crore equity shares of company towards One Time Settlement (OTS) of its debt with its lending banks. The board of directors of the company has approved issuance of up to 8 crore equity shares to its Lenders as part of One-time settlement scheme(s), envisaged to be entered into between the company and its lending banks.

The said issuance of shares to banks shall address approximately Rs 850.0 crore of the company’s debt which represents 74.0% of its total debt.

A2Z Infra Engineering (previously known as A2Z Maintenance & Engineering Services) is primarily engaged in providing Engineering, Procurement and Construction (EPC) services in power transmission and distribution sector with focus on distribution.

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