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A2Z Infra Engineering touches roof on receiving LoA from Edelweiss ARC

15 Mar 2019

A2Z Infra Engineering is currently trading at upper circuit limit of Rs. 18.05, up by 0.85 points or 4.94% from its previous closing of Rs. 17.20 on the BSE.

The scrip opened at Rs. 16.60 and has touched a high and low of Rs. 18.05 and Rs. 16.60 respectively. So far 51126 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 32.10 on 16-Mar-2018 and a 52 week low of Rs. 8.19 on 04-Oct-2018.

Last one week high and low of the scrip stood at Rs. 18.35 and Rs. 15.60 respectively. The current market cap of the company is Rs. 317.90 crore.

The promoters holding in the company stood at 29.24%, while Institutions and Non-Institutions held 13.13% and 57.63% respectively.

A2Z Infra Engineering has received the Letter of Acceptance (LoA) from Edelweiss ARC, to settle its all outstanding liabilities (including interest) as on cut-off date February 28, 2019 through full cash One Time Settlement (OTS).

With this settlement the debt of the Company shall stand reduced by Rs 177.69 crore. The deferred OTS Consideration of Rs 41.00 crore and this amount are being repaid by the Company in a progressive manner up to March 25, 2021. The Board of Directors of the Company at its meeting held on March 15, 2019 has approved the same.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323