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A meeting of the Board of Directors of the Hyderabad-based construction and infrastructure company IVRCL will be held on December 19 to consider conversion of part of the debt into equity shares of the company.
This move is pursuant to recent invocation of Strategic Debt Restructuring by Joint Lenders Forum necessitating further issue of shares to certain lenders under the Corporate Debt Restructure (CDR) on conversion of excess Funded Interest Term Loan amount (FITL), amongst other items, IVRCL has informed BSE.
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