The Ajay Piramal-led Piramal Enterprises and the Renaissance Group, an offshoot of the Dalmia Group, are in the reckoning to jointly purchase a 51 per cent stake in Electrosteel Steels, people familiar with the development told the media. Should the deal fructify, it would be the very first successful SDR - strategic debt restructuring transaction for banks and they would have succeeded in bringing in a novel management team.
A strategic debt restructuring (SDR) allows conversion of debt, by lenders, at a price below the current market value or the average of closing prices during the 10 trading days before the joint lenders’ forum or JLF’s decision. Banks can now own at least 51 per cent of the equity of the firm and have up to 210 days to convert debt into equity.
In the mean time, Piramal Enterprises share price traded above 4 per cent intraday on the National Stock Exchange (NSE). According to Dynamic Levels Research Analysts, the stock is among the Multibagger stocks filtered from the top 500 performing stocks.
For the further information on the support and resistance levels of the stock, visit Piramal Enterprises share price history page of Dynamic Levels.
To Read More: https://www.dynamiclevels.com/en/current-news/piramal-enterprises-share-price-161229104434
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