DB Realty shares locked at upper circuit after settlement deal with lender

January 12, 2023 / 10:11 AM IST

Shares of DB Realty were locked astatine 5 percent precocious circuit connected January 12 aft the institution executed colony agreements with its lender.

DB Realty and its wholly owned subsidiary Goregaon Hotel and Realty Private Ltd executed colony agreements with Reliance Commercial Finance connected January 10 for the loans disbursed earlier, according to a statement from the company.

In enactment with the company's nonsubjective to trim its indebtedness obligations, some parties person agreed to settee each the claims successful narration to the indebtedness agreements by mode of amicable colony successful accordance with the presumption and conditions arsenic elaborate successful the colony agreements.

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The institution has agreed to wage an magnitude of Rs 185.60 crore to the lender arsenic afloat and last colony successful assorted tranches. Goregaon Hotel has agreed to wage Rs 214.40 crore to the lender arsenic afloat and last colony successful assorted tranches.

The colony amounts shall beryllium payable successful assorted tranches earlier March 31, 2025.

On realisation of the magnitude of the archetypal installment, the parties person undertaken to unconditionally retreat each the litigations, proceedings, and claims made or filed against each other.

At 9:59am, DB Realty was quoting astatine Rs 89.50, up Rs 4.25, oregon 4.99 percent connected the BSE. The stock touched a 52-week precocious of Rs 139.45 and a 52-week debased of Rs 52.10 connected September 23 and July 5, respectively.

It was trading 35.82 percent beneath its 52-week precocious and 71.79 percent supra its 52-week debased connected Thursday.