Debt restructuring deal signed with NARCL for Rs 3,736 crore outstanding
BGRENERGY · price
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BGR Energy Systems has signed a Master Restructuring Agreement with National Asset Reconstruction Company Limited (NARCL) to restructure total outstanding debt of Rs 3,736 crore as of October 2025 (Rs 1,245 crore sustainable, Rs 2,491 crore unsustainable). Sustainable debt to be repaid over 4 years by Sept 2030. NARCL gets 20 percent equity on fully diluted basis, right to appoint 2 nominee directors, and 75 percent of recoveries from specified arbitration claims and receivables.
Significant 20 percent equity dilution to NARCL with loss of board control. Signals financial stress but provides debt relief and breathing room.