GCEL Lenders Adopt SDR Plan

The Economic Times - - Companies: Pursuit Of Profit -

GMR Ch­hat­tis­garh En­ergy (GCEL), a sub­sidiary of GMR In­fra­struc­ture (GIL), on Mon­day said that the con­sor­tium of lenders of GCEL have adopted Strate­gic Debt Re­struc­tur­ing Plan (SDR), as pro­vided un­der the scheme per­mit­ted by the RBI. “As per the SDR scheme, out of the to­tal out­stand­ing debt (in­clud­ing ac­crued in­ter­est) of .₹ 8,800 crore, debt to the ex­tent of .₹ 2,992 crore has been con­verted into eq­uity by which the con­sor­tium lenders would have 52.4% share­hold­ing and bal­ance 47.6% would be held by GMR,” GMR said.

HY­DER­ABAD

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