Business Standard

Reliance Capital shares fall 3.5 pc


Press Trust of India New Delhi
Reliance Capital shares on Wednesday fell 3.5 per cent after the company said it has defaulted on payments obligations on bonds and interest generated towards the same.
The scrip fell 3.54 per cent to close at Rs 15 on the BSE. During the trade, it dropped 4.50 per cent to Rs 14.85.
At the NSE, it went lower by 2.57 per cent to close the day at Rs 15.15.
In volume terms, 7.36 lakh shares of the firm were traded on the BSE and over 62 lakh shares on the NSE during the day.
In a disclosure to stock exchanges regarding payment of interest and principal on non-convertible debentures, it said the rating downgrade by CARE in September prompted many lenders to demand immediate payment for various facilities.
It also triggered consequential demands for immediate payment of amounts that were otherwise due and payable in a phased manner over the next eight years till March 2028, as per the original terms of lending.
"It is expected that the debt servicing of the company in relation to the accelerated amounts and otherwise will be delayed.
"Accordingly, as regards the non-convertible debentures ...the interest/principal obligations due on November 25, 2019 and November 26, 2019 are also delayed," it said in the filing.

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First Published: Nov 27 2019 | 4:30 PM IST

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