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CG POWER DEBT
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- Murugappa Group takes over CG Power, appoints directorsCG Power said its entire board including non-executive chairman Ashish Guha and whole-time executive director Sudhir Mathur have resigned.
- CG Power lenders agree for loan restructuring, pave way for Murugappa takeoverIn separate but almost identical stock exchange filings, CG Power and Murugappa Group firm Tube Investments of India Ltd (TIIL), said lende...
- New owners give new ambitions to CG PowerCG Power had a long term debt of over Rs 2,000 crore at the end of FY20. The Murugappa group has struck a settlement with banks (SBI is the...
- Lenders of CG Power negotiate with Murugappa Group to further raise the bid amountIf concluded, the deal will likely give Murugappa at least 70% of the debt-laden company.
- Murugappa Group eyes CG Power, ready to invest Rs 750 croreThe transaction is likely to conclude in July, they said.
- Bankers agree to give a line of credit to CG Power, says chiefWhile investigations by regulators will continue in parallel, the lenders have been supportive to get the company out of the woods, Guha sa...
- CG Power looking to hive off, sell its overseas assetsThe manufacturer of power and distribution transformers is valuing its global assets at around $250 million. “CG Power has held talks with ...
- CG Power lenders hire audit company BDO to monitor fund flowsLenders are reluctant to give fresh loans to the company hit by allegations of corporate governance violations and fraud. They are nervous ...
- CG Power to put its Worli head office up for saleThe company, which is dealing with muted cash flows and huge debt, will monetise assets like head office building ‘CG House’ and is also wo...
- CG Power plans to raise Rs 800 cr via equity issue to tackle liquidity crisisCG is faced with alleged financial irregularities that may have led to the company losing Rs 3,000 crore.
- Conditional offer: Sunil Mittal company to lead efforts to revive CG PowerSBM Holdings & institutional investors looking to put in working capital and revive domestic operations.
- In eye of storm, CG Power CEO Neelkant resignsRestructuring debt will require a change in management and board asked him to step down; Neelkant cries foul.
- KKR India picks up 10% in CG Power by enforcing pledgeThe scrips were bought at an average price of Rs 14.25 apiece, amounting to a total of Rs 89.31 crore.
- KKR India buys 10% in CG PowerAccording to the shareholding data for the June quarter 2019, Vistra ITCL is a public shareholder and held 21.63% stake in the company.
- Sebi will look into details gathered on CG Power, says TyagiThe lapses include advances to related and unrelated parties as well as liabilities of the company and the group potentially being understa...
- Stock pick of the week: Why analysts are bullish on CG Power and Industrial SolutionsDivestment plans of loss-making overseas businesses, good performance of domestic business, debt reduction plans, healthy order book of its...
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