Scheme for Sustainable Structuring of Stressed Assets (S4A) has been introduced to further strengthen the ability of lenders to tackle stressed assets and provide an avenue for reworking the financial structure of entities facing genuine problems.
The 'S4A Resolution Plan' proposal submitted by lead bank SBI on behalf of Joint Lenders Forum to the OC formed under the
aegis of RBI guidelines has been approved for implementation, the company said in a regulatory filing.
Supreme Infra said that "once implemented, the scheme would help the company to reduce its interest cost on the unsustainable portion of its debt".
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"The balance portion of Part B debt of Rs 1,134.13 crore would be converted into optionally convertible debentures (OCDs) for the tenor of 15 years," said Supreme Infra.
Repayment of OCD has to be made in seven equal instalments, commencing 2025-26, it added.
The company's share closed at Rs 95.30 a piece on BSE, up 7.87 per cent.
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