Shriram EPC Ltd calls for Board Meeting on April 10, 2015

A meeting of the Board of Directors of Shriram EPC Ltd will be held on April 10, 2015, to consider and approve the conversion of the funded interest term loan of the CDR Lenders into equity shares of the Company. CDR Lenders refers to the lenders of the Company whose loans are restructured under the Corporate Debt Restructuring (CDR) package.

The Board will approve issue of equity shares in lieu of the sacrifice amount to the CDR lenders and issue of equity shares of the Company on preferential basis to the promoters, Shriram Industrial Holdings Ltd (SIHL) and use of proceeds from such issuance towards redemption of cumulative redeemable preference shares and the repayment of the unsecured loan.

The Board will also consider other related amendments to the memorandum of association and articles of association of the Company.

Shares of SHRIRAM EPC LTD. was last trading in BSE at Rs.36.2 as compared to the previous close of Rs. 34.25. The total number of shares traded during the day was 13364 in over 244 trades.

The stock hit an intraday high of Rs. 36.5 and intraday low of 34.5. The net turnover during the day was Rs. 477228.

Source : Equity Bulls

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