Nitco Limited — Important, 22-10-2024: Agreements

NITCO Limited has signed a binding Restructuring Agreement with Authum Investment and Infrastructure Limited to restructure approximately INR 2,875.81 crores in loans. Key components include converting about INR 1,037.81 crores of unsustainable debt into equity, raising fresh equity capital of at least INR 350 crores from third-party investors, and acquiring real estate assets for approximately INR 300 crores. Ultimately, Authum will hold around 45% of the expanded share capital post-transaction completion.