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Construction : Finance Update | March 2016 | Source : Infrastructure Today

IVRCL lenders to convert loans

Lenders of debt-ridden infrastructure firm IVRCL have decided to convert part of their loans to the highway developer into a 51 per cent or more equity holding. The joint lenders forum have approved strategic debt restructuring (SDR) in the company. The SDR will be done in tranches at a price of Rs.8.765 per equity share of face value of `2 each, the company said in a BSE filing.
 
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