Educomp Solutions said on Wednesday the corporate debt restructuring (CDR) empowered group has approved the request for restructuring its debts outstanding comprising working capital debt of Rs 3.99 billion and long term debt of Rs 830.5 million.
The restructuring package agreed with CDR lenders led by State Bank of Patiala envisages extended repayment tenure of 10 years including moratorium period of 2.5 years from Cutoff date (Apr. 01, 2013) and funding of interest for a period of 2 years from cutoff date.
Shares of the company gained Rs 1.2, or 5.11%, to trade at Rs 24.70. The total volume of shares traded was 249,614 at the BSE (10.53 a.m., Wednesday).