Shares of GTL rises sharply after the approval from the lenders for dept restructuring proposal, Latest Stock Price of GTL Ltd & GTL Infrastructure

Shares of GTL rises sharply after the approval from the lenders for dept restructuring proposal, Latest Stock Price of GTL Ltd & GTL Infrastructure





Shares of GTL twins bounced after the lenders have approved the debt restructuring proposal for the two companies

According to sources, SBI Caps, which is the advisor to GTL, has proposed a restructuring package for the company. Under this basic restructuring package, loans will be restructured over a period of eight years and the interest rate will be reduced from 13.5% to around 10.8%.


Sixteen lenders, including Standard Chartered Bank, Bank of India, Andhra Bank and IDBI have agreed for corporate debt restructuring.
ICICI Bank, which had earlier converted their pledged shares into equity and currently hold around 29.3% stake in GTL, did not vote for or against CDR process.
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