Multibagger stock under Rs 10: This small-cap company refinances senior debt fully worth Rs 1,114 crore; hits 20 per cent upper circuit!
The stock is up by 80 per cent in just 1 month and generated multibagger returns of 115 per cent in just 3 years.
RattanIndia Power Ltd announce that it has refinanced its senior debt in a Rs 1,114 crore transaction led by Kotak Mahindra Bank. RattanIndia Power Ltd had earlier concluded a landmark resolution with erstwhile lenders for the 1,350 MW Amravati Thermal Power Plant in December 2019, whereby the loans from Indian banks and financial institutions were taken over by reputed international financial institutions including Goldman Sachs and Varde Partners through Aditya Birla ARC along with 15 per cent equity stake each to both sets of lenders.
Since the earlier resolution of December 2019, RattanIndia Power Ltd. has repaid an amount of Rs 3,371 crore over the last three and a half years to these international financial institutions out of which Rs 988 crores was prepayment. RattanIndia Power Ltd. has raised a fresh loan of Rs 1,114 crore in a transaction led by Kotak Mahindra Bank and has fully repaid the balance of senior debt to these foreign financial institutions.
The company’s operational performance remains strong with average EBITDA exceeding Rs 1,000 crore per annum since commissioning over the last 8 years. 1,350 MW Amravati Power Plant has full PPA with Maharashtra discom MSEDCL and full coal linkage with Coal India subsidiary South Eastern Coalfields Limited.
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On Monday, shares of RattanIndia Power jumped 20 per cent upper circuit to Rs 5.61 per share from its previous closing of Rs 4.68 per share. The shares of the company saw a spurt in volume by more than 3.44 times on BSE.
The stock is up by 80 per cent in just 1 month and generated multibagger returns of 115 per cent in just 3 years. Investors should keep an eye on this small-cap stock.