/ Diamond Power Infra To Reduce Debt By Rs 855 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 19 January 2017

Diamond Power Infra has announced the approval of the decision to convert the company's debt aggregating to Rs 855 crore into equity shares, as per the pricing formula under SDR guidelines of RBI, considering the cut off date as on June 29, 2016, at Rs 41.28 per share.

This step will bring down the company's debt by Rs 855 crore, thereby correcting the capital structure of the company in a major way and reducing burden substantially. The company also informed that the board of directors will meet on January 24, 2017, for the allotment of stocks to the various lenders in their agreed proportion.

Diamond Power Infrastructure has a powerful presence with solutions spanning 90% of the power T&D value chain. The company represents a product portfolio that is comprehensive and delivers leadership solutions through complete integration.

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