Gammon India to start talks with lenders for debt recast

14 Mar 2013 Evaluate

Construction and engineering company, Gammon India’s board has agreed to begin talks with lenders to restructure the company’s debt through the corporate debt restructuring process.

Lethargic industrial capital expenditure has contracted orders for Indian infrastructure companies and big projects have been stalled by a slow approval process and inadequate capital.

Gammon’s prominent lenders include Canara Bank, Allahabad Bank, ICICI Bank. Its total long-term rated facilities are over Rs 10,000 crore.

Peers
Company Name CMP
Larsen & Toubro 3630.60
Rail Vikas Nigam 433.00
NCC 287.25
KEC International 1232.00
Kalpataru Projects 1275.40
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