Kouton Retail has soared more than 9% at Rs 36 on reports that the proposal to recast its debt had been admitted by the corporate debt restructuring (CDR) cell.
SBI Capital Markets (SBI Caps) has been given the mandate to draft the recast scheme. The company has nearly Rs 660 crore debt on its books, of which Rs 460 crore will go for CDR and Rs 200 crore will be non-CDR, newspaper reports suggest.
The banks with loan exposure to the Delhi-based apparel maker and retailer include Indian Overseas Bank, Allahabad Bank, IDBI Bank, ICICI Bank and Axis Bank.
The trading volumes on the counter have jumped more than four-fold, with more than one million shares changing hands till noon deals as against an average 259,520 shares traded daily in the past two weeks.
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