A meeting of the Board of Directors of Steel Exchange India Limited is scheduled for Thursday, December 17, 2020, to discuss the status of debt resolution by way of OTS (One Time Settlement Scheme) proposal given by the company to the consortium of Banks led by SBI (State Bank of India) and to consider the approvals already received and yet to be received & further steps to be taken with regard to the funding proposal to meet the OTS obligations.
The board will consider and approve the proposal for raising funds for the purpose of OTS (One Time Settlement) with lender of the company, by issue of equity shares / convertible bonds / all types of debentures / warrants / any other equity linked securities, through permissible modes subject to such approvals, as may be required under applicable laws and to consider and ‘approve the terms and conditions and other matters in relation to the issue of equity shares / convertible bonds / all types of debentures / warrants / any other equity linked securities through permissible modes.
The board will also consider and approve conversion of Unsecured Loans of Promoter and Promoter Group into Equity shares of the company subject to such approvals, as may be required under applicable laws.
Shares of STEEL EXCHANGE INDIA LTD. was last trading in BSE at Rs.37 as compared to the previous close of Rs. 37.3. The total number of shares traded during the day was 12774 in over 51 trades.
The stock hit an intraday high of Rs. 37.9 and intraday low of 36.75. The net turnover during the day was Rs. 472786. Click here to send ur comments or to feedback@equitybulls.com
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