Mcleod Russel accepts NARCL debt restructuring for ₹1,050 Cr

Mcleod Russel India Ltd has accepted a Sanction Letter from National Asset Reconstruction Company Ltd (NARCL) on April 9, 2026, for the restructuring of its debt. NARCL represents approximately 75.02% of the total lenders as of December 31, 2025, and the company is in discussions with the remaining 24.98% of lenders for restructuring or settlement. Under the terms, Mcleod Russel must pay a sustainable debt of ₹1,050 crores to NARCL by February 15, 2029. Additionally, as part of the restructuring package and subject to necessary approvals, NARCL will receive 10% new equity shares of the company on a fully diluted basis through the conversion of unsustainable debt, along with a pledge of Promoter shareholding.