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RattanIndia Power on Friday said its board has approved a proposal to issue securities to its lenders as well as promoter entity RR Infralands Private Ltd to pare debt. The lenders had funded the 1,350 MW, Phase - I, thermal power project in Amravati, Maharashtra. The consortium includes PFC, Axis Bank, UCO Bank, LIC, Bank of India, Central Bank of India, SBI, PNB, Canara Bank, United Bank, Syndicate Bank and REC. The lenders would be issued 80.57 lakh shares of face value ₹10 each.
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