Kisan Mouldings Ltd pays Rs. 138 crores for OTS with lenders

Kisan Mouldings Ltd has made the payment of Rs.138.00 Crores (Rupees One Hundred Thirty Eight Crores) to the Company's Lead Bank viz., Punjab National Bank (PNB), Mumbai towards One Time Settlement/Compromise Settlement being entered into with the Company's Lenders lead by Punjab National Bank. Further, PNB has confirmed having received the OTS amount referred above wide their letter dated 27th March, 2024. PNB is in the process of apportioning the OTS amount to consortium of Banks and their respective accounts. Upon completion of the process, the PNB would issue No Dues Certificate (NDC) to the Company. We shall intimate to the Exchange in this regards, once the NDC is received by the Company. Consequently, charge on the Assets of the Company would also be released in the due course of time.

The above referred payment of Rs. 138.00 Crores was made primarily out of the proceeds of the Preferential Issue, allotment of which was made on 26th March 2024.

Shares of KISAN MOULDINGS LTD. was last trading in BSE at Rs. 59.36 as compared to the previous close of Rs. 58.20. The total number of shares traded during the day was 38999 in over 63 trades.

The stock hit an intraday high of Rs. 59.36 and intraday low of 59.36. The net turnover during the day was Rs. 2314980.00.

Source : Equity Bulls

Keywords

KISANMOULDINGS INE017C01012 OTS Payment