The corporate debt restructuring (CDR) package of Indage Vintners has been approved, reports CNBC-TV18, qouting sources. Secured and unsecured lenders have consented to Indage Vintners CDR package. Only one lender did not vote for Indage Vintners' CDR.
The total debt obligations have been deferred by approximately two years. The promoters of Indage Vintners are to bring in Rs 75-100 crore as capital. They are likely to sell their personal property to bring in capital.
The total debt of Indage Vintners stands at Rs 400 crore under the corporate debt restructuring scheme.
Indage Vintners had submitted a CDR proposal to lenders in December 2009.
Even then, Indage is no more investment worthy. It is just a gamble. It may get into exactly the same situation in next 4 months and no CDR can help that avoid a winding up. Retail investors are advised not to risk their hard earned money.
ReplyDeleteGone through the advise you have made, looks like long term investment opportunity. However Looking at the current scenario and the BSE announcement on Amalgamation , is this a still a hope of light at the end of tunnel ?
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