Arshiya Ltd has announced that the Company has received a debt restructuring package from its lead lender EARC i.e., Edelweiss Asset Reconstruction Company Limited by way of a Settlement of Debt vide letter dated March 04, 2022. This Settlement of Debt has been approved by the Board at its meeting held on March 07, 2022.
The consolidated debt based on the unaudited accounts, prior to demerger was approximately Rs3,040 crore.
After the recently announced demerger into two entities, namely Arshiya Limited (currently listed) and Arshiya Rail Infrastructure Limited (ARIL, yet to be mirror listed, post regulatory approvals) and the Settlement of Debt with EARC the debt implications for Arshiya Limited (currently listed) are as below:
1) Arshiya Limited’s (AL) consolidated debt (including its subsidiaries and Settlement of Debt :
This will further be reflected in Arshiya Limited’s Q4 FY22 results, said company.
At around 2:44 PM, Arshiya stocks were trading at Rs33.50 apiece down by Rs1.75 or 4.96% on Sensex.
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