Shares of Steel Strips Wheels Ltd. (SSWL) experienced a notable 5% surge
SSWL has announced a strategic investment of Rs 138 crore in AMW Autocomponent Ltd as part of an insolvency resolution plan. The decision comes following the approval of the resolution plan by the Ahmedabad Bench of the National Company Law Tribunal, as stated in a regulatory filing on Tuesday.
The company outlined that the infusion of Rs 138.15 crore into AMW Autocomponent Limited (AACL) will involve a combination of equity and debt, addressing financial creditors, operational creditors, workmen/employees, and other creditors of AACL. This amount is intended for the full and final settlement and will be considered as the complete discharge of SSWL’s obligation under the approved resolution plan.
As of 10:13 am the shares were trading 5.01% higher at ₹271.00
