HCC becomes first company to go for debt restructuring under S4A scheme
It said, “The board has approved issuance of nearly 25.20 crore equity shares of HCC – which represents 24.44% of the expanded share capital of the company, along with optionally convertible debentures (OCDs) not exceeding Rs 2000 crore on preferential basis to the lenders.”
S4A scheme is one of RBI move to curb the problem 'loans' of large projects at a sufficiently early stage and protect interest of lenders. Photo: Pixabay