Shree Rama Newsprint Limited Redempts Second Installment of Zero Coupon Debentures
Shree Rama Newsprint Limited has completed the redemption of the second installment of its Unlisted, Secured Redeemable, Zero Coupon, Non-Convertible Debentures (ZCDs) issued to lender banks, following a plan approved by the Joint Lender Forum.The ZCDs are set to be redeemed in three equal annual installments, with payments commencing at the end of the 10th year from their issuance.
The company conducted the redemption for the second installment of ZCDs held by Bank of India and Punjab National Bank (PNB). The details of the debentures redeemed and the corresponding amounts paid are as follows:
| Name of the Bank | Number of Debentures Redeemed (1/3rd) | Amount Paid on Redemption (1/3 Annually) (Rs. in crore) |
|---|---|---|
| Bank of India | 78,750 | 7.875 |
| Punjab National Bank | 62,500 | 6.250 |
The redemption was carried out in accordance with the sanctioned terms and the Joint Lender Forum approved plan.
RAMANEWS Stock Price Movement
Shree Rama Newsprint Limited saw its stock climb today, closing the trading session at ₹33.37 after rising 8.59%. The equity traded within a daily range of ₹29.30 to ₹34.20.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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