In association with
    NIFTY 50

IL&FS wins shareholder approval for restructuring plan

Updated : October 01, 2018 08:44 AM IST

The shareholder approval gives the privately-held infrastructure financing and construction firm a lifeline and time to sell some of its infrastructure assets and restructure its Rs 91,000 crore ($12.55 billion) debt pile.
In a brief regulatory filing on Sunday, a day after it held closed-door shareholder and board meetings, IL&FS said that its shareholders have approved the issue of secured non-convertible debentures worth Rs 15,000 crore, and approved an increase in the company's borrowing limit.
Shareholders also cleared an increase in the company's share capital, allowing IL&FS to proceed with plans to seek an equity infusion through a shareholder rights issue.
IL&FS wins shareholder approval for restructuring plan
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV