Rajshree Sugars and Chemicals Ltd updates on debt retructuring

Rajshree Sugars and Chemicals Ltd had entered into a Master 'Framework Restructuring Agreement' (FRA) with six lender banks (State Bank of India, Bank of India, ICICI Bank Limited, UCO Bank, Axis Bank Limited and Federal Bank Limited) on 12th July 2021, for restructuring the debt of the Company.

The company has complied with all the Conditions precedent (CP) for implementation of the approved debt restructuring plan as set out in the FRA. At the Joint Lenders' Meeting (JLM) held on 26th November 2021 all the lender banks agreed to treat the date of implementation of the restructuring plan as 6th December 2021 (Effective date). This date has also been confirmed by the State Bank of India (SBI), the lead lender, in the Minutes of the JLM, which was circulated by SBI to the other Lender Banks on 6th December 2021.

Shares of Rajshree Sugars & Chemicals Limited was last trading in BSE at Rs. 26.55 as compared to the previous close of Rs. 24.15. The total number of shares traded during the day was 5572 in over 26 trades.

The stock hit an intraday high of Rs. 26.55 and intraday low of 26.55. The net turnover during the day was Rs. 147936.00.

Source : Equity Bulls

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RajshreeSugarsandChemicalsLimited INE562B01019 DebtRestructuring Implementation