Reliance Defence and Engineering Ltd to consider refinancing scheme

The Board of Directors of Reliance Defence and Engineering Ltd at its meeting to be held on February 11, 2017, will also consider approving a Refinancing Scheme with the Lenders of the Company and consequent issuance of Equity Shares, Compulsorily Redeemable Preference Shares and Secured Non-Convertible Debentures and convening of an Extraordinary General Meeting for the said purposes.

The above shall be subject to all permissions, sanctions and approvals as may be necessary under the applicable provisions of law.

On completion of the process of Refinancing, the Company would exit from Corporate Debt Restructuring scheme (CDR).

Shares of Reliance Defence and Engineering Ltd. was last trading in BSE at Rs.58.45 as compared to the previous close of Rs. 58.45. The total number of shares traded during the day was 203213 in over 1338 trades.

The stock hit an intraday high of Rs. 59.2 and intraday low of 58.25. The net turnover during the day was Rs. 11934153.

Source : Equity Bulls

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