Diamond Power Infrastructure today said its lenders have in principally agreed to a proposal from CKP Grouop to infuse Rs 1,200 crore under Strategic Debt Restructuring (SDR) scheme.
“The company would like to inform its shareholders that lenders at their meeting in-principally agreed, subject to approvals of various authorities, towards the proposal received from CKP Group to infuse Rs 1,200 crore under SDR scheme,” Diamond Power Infrastructure said in a BSE filing.
Earlier this month, Diamond Power Infrastructure had said its shareholders have approved the proposal to convert Rs 2,398-crore debt into equity and optionally convertible redeemable preference shares (OCRPS).
Shares of the company were trading 4.95 per cent higher at Rs 42.40 on the BSE.