Mukesh Ambani News: Mukesh Ambani has invested in many companies and crossed his boat. Now once again Mukesh Ambani is going to change the fortunes of the debt-ridden textile sector company. Approval has been received from NCLT regarding this. The National Company Law Tribunal (NCLT) has approved the joint bid of Reliance Industries and Assets Care and Reconstruction Enterprise. The investors of the company will also benefit greatly from this decision of NCLT.
stock market information
Giving information to the stock market, Sintex Industries has told that the NCLT bench has ordered that the debt resolution plan presented by Reliance and ACRE has been approved. Currently, Syntex shares are trading at a 52-week low. The Reliance-ACRE plan includes reduction in share capital and delisting of zero value equity shares.
NCLT resorted last year
According to the information received from the report, Reliance and ACRE had jointly proposed about Rs 3650 crore. At the same time, the lenders of Sintex Industries voted in favor of the joint bid. On the other hand, if we talk about the month of March last year, then NCLT was taken to solve the problems of the company.
How much is the debt of the company?
Talking about the debt on the company, the insolvency process against Sintex Industries started in April 2022. At present, the company has an outstanding loan of Rs 7500 crore. Among the bidders were Welspun group firm EasyGo Textiles, GHCL and Himtsingka Ventures.
Shares trading at 52 week low
Talking about the shares of Sintex Industries Ltd, at present the company’s stock is trading at the level of Rs 2.30. This year the company’s stock is trading at a 52-week low. At the same time, the 52-week record level of this stock is Rs 11.45. In the last 6 months, this stock has seen a decline of 69.13 percent.