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Reliance Capital shares fall over 2 pc


Reliance Capital shares fall over 2 pc
Image Credit: StoryBlocks

Reliance Capital shares on Wednesday fell over 2 percent after the company said it had defaulted on payments obligations on bonds and interest generated towards the same. The scrip declined 2.25 percent to Rs 15.20 on the BSE.

On the NSE, it dipped 2.25 percent to Rs 15.20. Making disclosure to stock exchanges regarding payment of interest and principal on non-convertible debentures, it said the rating downgrade by CARE in September has initiated acceleration of various facilities by certain lenders.

It also triggered consequential demands for immediate payment of amounts that were otherwise due and payable in a phased manner over the next eight years till March 2028, as per the original terms of lending. "It is expected that the debt servicing of the company in relation to the accelerated amounts and otherwise will be delayed.

"Accordingly, as regards the non-convertible debentures ...the interest/principal obligations due on November 25, 2019, and November 26, 2019, are also delayed," it said in the filing.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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