McLeod Russel India Limited
Execution of Master Restructuring Agreement with NARCL
Main Agreement Details
McLeod Russel India Limited has executed a Master Restructuring Agreement (MRA) with National Asset Reconstruction Company Limited (NARCL) acting through India Debt Resolution Company Limited on September 29, 2026.
Financial Details:
- Total outstanding debt: ₹2,483.31 Crore
- Sustainable debt portion: ₹1,050 Crore
- Unsustainable debt portion: ₹1,433.31 Crore
Key Terms:
- Repayment of Sustainable Debt to be completed by Financial Year ending 2029
- Constitution of a Monitoring Committee comprising representatives of the lender and the Company to oversee implementation
- Allotment of 10% equity shares in the Company to NARCL with anti-dilution protection
- Pledge of existing Promoter shareholding/proposed shareholding in lieu of conversion of Promoter debt to equity
- Right for NARCL to appoint a Nominee Director
Parties Involved:
- McLeod Russel India Limited (Company)
- National Asset Reconstruction Company Limited (NARCL)
- India Debt Resolution Company Limited (acting on behalf of NARCL)
- Mr. Aditya Khaitan (Promoter holding 17,272 equity shares)
Regulatory Approvals:
The issue/allotment of equity shares is subject to completion of applicable corporate, regulatory and other approvals. The number of shares/issue price will be as per the terms of MRA in compliance with applicable laws.
Relationship Disclosure:
- NARCL is not related to promoter/promoter group/group companies
- Mr. Aditya Khaitan is a promoter of the Company
- The transaction does not fall within related party transactions
Other Key Announcements
No additional material announcements disclosed.