At meeting held on 31 December 2019
The Board of Rattanindia Power at its meeting held on 31 December 2019 has approved the issuance and allotment of securities to Aditya Birla ARC acting on behalf of and in its capacity as trustee of ABARC-AST-002-TRUST (ARC), as per details mentioned below:
a) 80,57,24,169 equity shares of face value Rs. 10/- each of the Company, at an issue price of Rs. 10/- per share;
(b) 66,550 non-convertible debentures (NCDs) of face value Rs. 1,00,000/- each of the Company, at an issue price of Rs. 1,00,000/- per NCD.
The issuance of the aforesaid securities is towards reduction of outstanding debt of the Company owed to the certain banks and institutions in a consortium of lenders, which had financed its 1350 MW Phase-I Amravati Thermal Power Project (the Lenders), taken over by ARC pursuant to and in terms of an assignment from the Lenders.
Consequent to the issuance and allotment of the equity shares in favour of ARC, the paid-up share capital of the company stands increased to Rs 5191,30,16,910 divided into 456,43,81,691equity shares of Rs 10 each and 62,69,20,000 Preference Shares of face value Rs 10 each, comprising of (i) 0.001% 37,69,20,000 optionally convertible cumulative redeemable preference shares of face value Rs 10 each (aggregate value Rs 376,92,00,000) and (ii) 0.001% 25,00,00,000 redeemable preference shares of face value Rs 10 each (aggregate value Rs 250,00,00,000) of the Company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
