BGR Energy Systems Limited
Main Body
BGR Energy Systems Limited ("the Company") has executed a Master Restructuring Agreement ("MRA") with National Asset Reconstruction Company Limited ("NARCL") acting through India Debt Resolution Company Limited. The agreement was executed on 5th October 2026, as disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.
The purpose of the agreement is the restructuring of the Company's outstanding debt of ₹3,736 Crore (as of 1st October 2025), which comprises:
- Sustainable Debt: ₹1,245 Crore
- Unsustainable Debt: ₹2,491 Crore
Significant Terms of the Agreement:
- Repayment of the Sustainable Debt (₹1,245 Crore) over 4 years, with completion required by 30th September 2030
- Allotment of 20% of the Company's equity shares to NARCL on a fully diluted basis
- Payment to NARCL in connection with certain identified bank guarantees ("Identified BGs") assigned to NARCL, in case of their invocation or devolvement
- NARCL will receive 75% of amounts recovered by the Company from specified arbitration claims, receivables, awards, and other claims
- NARCL gains the right to appoint up to 2 Nominee Directors to the Company's board
- Constitution of a Monitoring Committee comprising representatives of the lender and the Company to oversee implementation
- Continuation of existing security in favour of NARCL
- Right of first refusal granted to the obligors (Company and corporate guarantors) if NARCL proposes to sell or transfer its equity shares
Other Key Announcements
No other material announcements were disclosed in this filing.