Sadbhav Engineering: SBI and ICICI Bank join debt restructuring plan
SADBHAV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sadbhav Engineering announced that SBI and ICICI Bank have signed a Deed of Accession to the Master Restructuring Agreement as assenting lenders. This updates the earlier announcement from March 26, 2026. Total debt of about Rs 194.93 Crores (Rs 167.86 Cr fund-based plus Rs 27.07 Cr non-fund-based) is being restructured. The fund-based portion will be converted into non-convertible debentures, with interest components convertible to equity. Promoter debt will also be converted to equity. Lenders get the right to appoint nominee directors.
Progress on restructuring is positive, but conversion of debt and promoter loans into equity will dilute existing shareholders, signalling prior financial stress.