Mumbai: Ramky Infrastructure Ltd on Monday said that the joint lenders forum (JLF) set up by the company’s lenders has suggested restructuring the company’s debt.

“...the JLF of consortium banks in order to arrive at an early and feasible solution and preserve the economic value of the underlying assets as well as the lenders’ loans, has advised the company for restructuring," the firm said in a filing to BSE.

Ramky has submitted the corrective action plan (CAP) to State Bank of India, the lead member of the consortium banks, the firm said, adding that the JLF will finalize the restructuring package.

The company’s consolidated debt on 30 September stood at 3,404.60 crore.

For the half year ended 30 September, Ramky’s loss widened to 284.28 crore, from 99.60 crore in the year ago period. In the same period company’s revenues declined to 633.24 crore, from 1,160.82 crore a year ago.

At 1.16pm Ramky’s shares were trading at 48.18, down 4.08% on the BSE, while the benchmark Sensex was trading at 27,302.52 points, down 0.18%.

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