Image Credits: RattanIndia.com
RattanIndia Power Ltd, formerly named India Bulls Power, is a business conglomerate with business interests in power generation, cement, and mining has reported Monday that it has repaid a debt of Rs 1,219 crores during the past 15 months, which includes a Rs 200 crore prepayment, despite the hurdles presented due to the COVID-19 pandemic. The company in a BSE filing mentioned that “during the last 15 months, RPL has repaid the debt of Rs. 1,219 crores to lenders, including Rs 200 crores as prepayment.” The present debt position of the company is not determined as of now.
In addition to that, the company also notified the bourses about the recent notification to exchanges by Vistra ITCL (India) Ltd (Vistra) dated June 8, 2021, concerning the security pledge creation on 43,03,24,169 equity shares of RattanIndia Power Ltd held by RR Infralands Pvt Ltd, which is one of the company’s promoter entities. The company has elucidated that the company has not taken up any new loans or debts and that a security pledge has been put in place in acquiescence with its current one-time settlement (OTS) lending facility on December 30, 2019, according to it, CCDs (Compulsory Convertible Debentures) already part of security pledge of the OTS financing facility were converted into equity shares.