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Jyoti Structures, lenders mulling strategic debt restructuring

By Religare
|

Jyoti Structures Ltd, a manufacturer of transmission line towers said that its lenders are mulling over conversion of a large portion of their loans into equity.

"The Company have been advised by email dated August 19, 2015 received from State Bank of India, leader of consortium banks, that Strategic Debt Restructuring has been invoked with reference date as on August 11, 2015 by the Joint Lender Forum pursuant to RBI Circular dated June 08, 2015," it said in a filing to the Bombay Stock Exchange.

 

The consortium is led by State Bank of India (SBI), which has an exposure of Rs 1,228 crore to the maker of power transmission towers.

Meanwhile, shares of the company were trading at Rs 13.65 a piece, up 5 per cent from the previous close at 10:12 hours on BSE.

Story first published: Thursday, August 20, 2015, 12:30 [IST]
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