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.
- Kolkata: Mega health camp transforms lives in Ultadanga slum with free multi-specialty services
- 'Music Meets Bells' returns: New York to witness divine confluence of sound and movement
- SonaSPEED motors power NASA–ISRO synthetic aperture radar mission
- London to host maiden thought leadership summit IndiSetu to boost India-UK innovation and cultural ties
- From Loom to Label: Sona College of Tech’s Fashion Tech department powering innovation and careers
- IBCN 2025: Celebrating the Chettiar legacy, powering youthful enterprise
- Rotary Year 2025-26: Dr. Ramendu Homchaudhuri leads charge towards a Thalassemia-free India
- Twin National Honours for Faculty Excellence and Research Leadership
- Kolkata: IACC celebrates rich culinary heritage of India, USA
- Bengal Pro T20 League: A week of thrills, spills and rain interruptions
Malaysia Airlines will expand its South India network by adding more flights on the Kuala Lumpur–Trivandrum route to meet rising demand, the airline said. From September 12, the carrier will operate five weekly services, with daily flights to start from December 1.
IndiGo has expanded its codeshare agreement with KLM, the Netherlands’ national airline, providing its passengers with enhanced access to destinations across Europe and the United Kingdom through KLM’s network, the airline said.
Etihad Airways and Azul Brazilian Airlines have signed a frequent flyer partnership, allowing members of Etihad Guest and Azul Fidelidade programme to earn and redeem loyalty points across both airlines.