12/23/2014

Dilutiontohappeninnext18mthsDiamondCables

News
PlayPlanetSaviourgame

DownloadtheFREE
moneycontrolWindowsApp!
SENSEX

27506.46

NIFTY

8267.00

195.33(0.71%)
57.00(0.68%)

moneycontrol.com

Dilutiontohappeninnext18mths:DiamondCables

News
26Sep200602:40PM
Share:

FontResize: A

Diamondcableshaveconcludedthedebtrestructuringexercisewithitslenders.
JointManagingDirectorofDiamondCables,AmitBhatnagarsaysafterdebtrestructuringthereisnodebt
onthebooks.
ExcerptsfromCNBCTV18'sexclusiveinterviewwithAmitBhatnagar:
Q:Giveusdetailsofthisdebtrestructuringthatyouhavedone.Aonetimesettlementofdues,whichwas
aboutRs131crore,yousettledthatforaconsiderationofRs45crore,howhaveyoufinancedit?
A:WejustraisedsomefundsfromClearwaterCapital.
Q:YouraisedaboutRs128.5crore.Iisthatthetotal?
A:ThatisthedebtportionandwehaveraisedaroundRs40croreinequity.SowewillbegivingRs45
http://m.moneycontrol.com/news/business/dilutiontohappennext18mthsdiamondcables_242341.html?type=business&category=business

1/3

12/23/2014

Dilutiontohappeninnext18mthsDiamondCables

croretothesecuredlendersagainsttheiroutstandingofRs131crore.Theremainingwillberequiredfor
thelongtermworkingcapitalpurpose.
Q:Inwhichcase,withthedebtandthewarrantsthatyouhaveissuedtoClearwaterCapitalPartners,give
usanideaofwhendoesthedilutiontakesplaceandhowmuchdilutionwilltherebe?
A:ThepresentequityisRs13.52croreandadilutionofaround40lakhsharesmeanstheexpanded
equitywillbeRs17.5crore.Thedilutionwillhappeninnext18months.
Q:Isthereanymoredebtonthebooksasofnow?
A:100%wassecuredlenders.
Q:Sonowyouhavenodebtonyourbooks?
A:Yes.
Q:Intermsofsavingfromaninterestasaresultofthis,giveusanideaofhowmuchthehealthofthe
companyimproves?
A:TheoutstandingofRs131croreisnowsettledforRs45crore.SowewillbetakingawritebackofRs
86croreonthebooks.Alongwiththatthecutoffdatewas31122005,thelastthreequartersinterest,
whichwealreadyaccountedforinourquarterlyresultswouldbewrittenback.Sothatinterestwillbe
approximatelyaroundRs10crore.
Q:Rs165allofthatwillberealizedinFY07?
A:ThepresentoutstandingisaroundRs180crore.
Q:Yourexpectationsfornetsalesandnetprofitsforthisfinancialyear?
A:Icannotgetintospecificnumbersbutthepresentrunrate,whichisRs50crore,wouldatleastimprove
by50%inthenextthreequarters.
BacktoTop
STOCKSINTHISARTICLE

DiamondPowerInfrastructure
AddtoWatchlist

http://m.moneycontrol.com/news/business/dilutiontohappennext18mthsdiamondcables_242341.html?type=business&category=business

2/3

12/23/2014

Dilutiontohappeninnext18mthsDiamondCables

RELATEDNEWS

Topbuzzingmidcapstockstotradeon
December9

NoNPAaccounts,alldelayedpayments
made:DiamondPower

Seerevenuegrowthof3
DiamondPower

ReadMoreOn

#AmitBhatnagar #DiamondCables #debtrestructuring #ClearwaterCapital #securedlenders

COMMENTS

What'syourview

PREVIOUSSTORY

Mgmtsneedtoadapttofundamentalsector
changes:TechMah
NEXTSTORY

Snapdeal.comlaunchesonline'Agristore'targeting
farmers

SECTIONS:
Home|News|Markets|Portfolio|Watchlist|Messages|LiveTV&Shows|Videos|Commodity|
Currency|MutualFunds|IPO|PersonalFinance|Property|GameChangers|InvestmentWatch|
PowerYourTrade

AFeedback Desktopsite

FontSize:A A

Language:English

2014.aWeb18Venture

http://m.moneycontrol.com/news/business/dilutiontohappennext18mthsdiamondcables_242341.html?type=business&category=business

3/3