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SEBI norms tweak boost chances of CG Power resolution

The relaxation by SEBI in pricing methodology for listed companies having stressed assets has brightened the prospects of early resolution of CG Power.SEBI has decided to relax the pricing methodology for preferential issues by listed companies having stressed assets and exempt allottees of preferential issues from open offer obligations in such cases.CG Power, a large engineering company having its operations worldwide and having a consolidated turnover of more than Rs 6,200 crore and an EBIDITA of Rs 500 crore in 2018 and which is asset rich ran into financial problems amidst a controversy between erstwhile promoter Gautam Thapar and its lenders KKR and L&T Finance who had lent money against pledge of the promoter's holding.Gautam Thapar .....

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