MSP Steel & Power successfully implements restructuring scheme

MSP Steel & Power announced the successful implementation of the Restructuring Scheme along with its Lenders as on 31 March, 2018; whereby transfer of 128,578,044 equity shares from the promoter group to the consortium of Lenders was completed under the restructuring scheme. The said Scheme was earlier approved by the relevant authorities under the guidelines issued by the Reserve Bank of India (RBI) and was duly intimated to the stock exchanges.

The Lenders along with the Company had earlier signed the Master Framework Agreement and Share & Transfer Confirmation Agreement on 24 January, 2018, confirming the implementation of the Restructuring Scheme.

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