RattanIndia Power board approves issuance of securities to lenders, promoters to pare debt

RattanIndia Power on Friday said its board has approved a proposal to issue securities to its lenders as well as promoter entity RR Infralands Private Ltd for paring debt.

The board of directors in its meeting held on Friday approved the issuance and allotment of the securities to Power Finance Corporation (PFC) led consortium of lenders and RR Infralands Private Ltd, the company said in a BSE filing.

The issuances are towards reduction of a portion of the debt owed by the company to the lenders and promoters, it added.