Diamond Power lenders approve Rs 1,200 cr infusion under SDR

Diamond Power Infrastructure today said its lenders have in principally agreed to a proposal from CKP Grouop to infuse Rs 1,200 crore under Strategic Debt Restructuring (SDR) scheme.
"The company would like to inform its shareholders that lenders in their meeting in-principally agreed, subject to approvals of various authorities, towards the proposal received from CKP Group to infuse Rs 1,200 crore under SDR scheme," Diamond Power Infrastructure said in a BSE filing.
Earlier this month, Diamond Power Infrastructure said its shareholders have approved the proposal to convert Rs 2,398 crore debt into equity and optionally convertible redeemable preference shares (OCRPS).

Shares of the company were trading 4.95 per cent higher at Rs 42.40 on BSE.