08 Feb 2016, 11:45 am
These equity shares have been allotted consequent upon the option exercised by the said Lenders to convert their debt into equity shares of the Company under CDR package in accordance with the resolution passed by the members of the Company.
Speaking on the development, Arun Kumar Jagatramka, Chairman and Managing Director, Gujarat NRE Coke Ltd said, “This development will help to reduce the debt of the Company by quite a considerable amount and we would like to leverage this for the faster revival of the company’s operations.”
He also thanked all the banks for their support in the revival of the company.
Gujarat NRE Coke Ltd (GNCL), the flagship company of Gujarat NRE group, is one of the largest independent producers of met coke in India with an installed capacity of 1.5 million tonnes per annum (MTPA).
The company has its met coke plants at Khambhalia and Bhachau in Gujarat and Dharwad in Karnataka. GNCL also has a mini steel mill in Gujarat to recycle steel scraps to manufacture TMT Bars. The company is currently setting up 30 MW power plants out of the waste heat emanating from the coke making process.
- PE firm TA Associates' strategic investment in Vee Healthtek
- Alive India and ITC Aashirvaad Svasti Milk releases Chhath Puja anthem
- Kolkata: Rotary hosts World Polio Day with students in Gyan Manch
- Alive India in Concert celebrates 10th season with Sunidhi Chauhan's performance in Bengaluru
- Narayan, Narayan: Why Jeevan is bigger than Sean Connery as James Bond
- New York teen sensation Urjani De shines at New York Puja Association's Cultural Programme 2024
- Sunidhi Chauhan teams up with Alive India Foundation to empower independent musicians, raise awareness on thalassaemia eradication
- How Salim Khan’s advice helped Kiran Kumar make a comeback to Bollywood
- My bid to internationalise Shatatantri Veena among next generation pays off: Santoor maestro Tarun Bhattacharya on his return from US Tour
- Rotary Calcutta Metro City hands over football and fitness kits to Nayagram Thana Balika Vidyapith in Jhargram
Jazeera Airways, Kuwait’s leading low-cost carrier, is offering 50% off on fares to all destinations across its network from July 28 to 31.
New Delhi : Air India Express, a subsidiary of Air India and a part of the Tata group, has launched its "Time to Travel" sale on the airline’s website, airindiaexpress.com, the Air India Express mobile app and other major booking channels.
Tokyo: Airlines were forced to cancel over 300 flights following the collision between a Japan Coast Guard aircraft and a Japan Airlines passenger plane at Tokyo's Haneda Airport on Tuesday evening even as reports said the plane was cleared to land ahead of the tragedy.