Educomp Solutions gains on debt restructuring approval - The New Indian Express

Educomp Solutions gains on debt restructuring approval

Published: 26th March 2014 12:19 PM

Last Updated: 26th March 2014 12:19 PM

Educomp Solutions gained on Wednesday after the corporate debt restructuring (CDR) empowered group has approved the request for restructuring its debts outstanding comprising working capital debt of Rs 3.99 billion and long term debt of Rs 830.5 million.

The restructuring package agreed with CDR lenders (led by State Bank of Patiala) envisages extended repayment tenure of 10 years including moratorium period of 2.5 years from Cutoff date (Apr. 01, 2013) and funding of interest for a period of 2 years from Cutoff date.

Shares of the company gained Rs 1.15, or 4.89%, to trade at Rs 24.65. The total volume of shares traded was 257,005 at the BSE (11.01 a.m., Wednesday).

The scrip has touched an intra-day high of Rs 25.30 and low of Rs 23.50. The total volume of shares traded at the BSE is 257,005.In the earlier session, the shares lost 1.26%, or Rs 0.3, at Rs 23.50.Currently, the stock is trading down 67.31% from its 52-week high of Rs 75.40 and above 40.86% over the 52-week low of Rs 17.50.

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