The company also informed the bourses about the recent intimation to exchanges by Vistra ITCL (India) Ltd (Vistra) dated June 8, 2021, regarding the security pledge creation on 43,03,24,169 equity shares of RattanIndia Power Ltd held by RR Infralands Pvt Ltd, one of its promoter entities.
In this context, it clarified that the company has not taken any new debt and the security pledge has been created in compliance with its existing one-time settlement (OTS) lending facility dated December 30, 2019, whereby CCDs (Compulsory Convertible Debentures) already part of security pledge of the OTS financing facility were converted into equity shares.
Notably, the percentage and proportion of the promoters holding in terms of all securities, i.e. equity shares and CCDs, pledged in favour of Vistra – the trustee company of lenders – remains unchanged, it explained.
The promoter converted these CCDs into 43,03,24,169 equity shares at a price of Rs 10 per share on February 11, 2021, well above the then prevailing market price of Rs 2.95 per share, the company said.
The clarification is being filed for the information of the exchange and benefit of the general public, it said.
