Brahmaputra Infrastructure surges on inking master restructuring agreement with lenders
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Brahmaputra Infrastructure is currently trading at Rs. 52.85, up by 1.91 points or 3.75% from its previous closing of Rs. 50.94 on the BSE.
The scrip opened at Rs. 52.49 and has touched a high and low of Rs. 55.95 and Rs. 50.20 respectively. So far 156609 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 55.95 on 17-Aug-2023 and a 52 week low of Rs. 25.20 on 30-Aug-2022.
Last one week high and low of the scrip stood at Rs. 55.95 and Rs. 44.90 respectively. The current market cap of the company is Rs. 152.38 crore.
The promoters holding in the company stood at 74.05%, while Institutions and Non-Institutions held 0.42% and 25.53% respectively.
Brahmaputra Infrastructure has entered into a Master Restructuring Agreement (MRA) with its lenders, Indian Overseas Bank being a lead Bank. The company's lenders have agreed & approved the restructuring agreement and executed a Master Restructuring Agreement (MRA) at New Delhi.
The restructuring agreement is expected to improve the company's financial position and enable it to continue to grow its business. The implementation of restructuring package is expected to take effect from September 10, 2023. The company's board of directors has unanimously approved the restructuring agreement in the board meeting held on August 16, 2023.
Brahmaputra Infrastructure has established itself as service provider of builder’s developers. The company also in the business segment of real estate division, heavy civil construction division.
