August 24, 2018 / 5:22 AM / a month ago

BUZZ-India's Ruchi Soya gains; lenders give nod for Adani Wilmar's bid - report

** Oil seeds processor Ruchi Soya Industries Ltd’s shares hit upper band after rising as much as 5 pct to 9.45 rupees

** Co's lenders have approved 60 bln rupees ($856.04 mln) bid of Adani Wilmar, BloombergQuint reported here.2I4sI6g

* Over 96 pct members of the committee of creditors for Ruchi Soya approved the resolution plan, which involved 43 bln rupees repayment to financial creditors and over 17 bln rupees equity infusion, the report added

** Both Ruchi Soya and Adani Wilmar were not immediately available for comment

** More than 16.6 mln shares traded as of 0518 GMT, four times their 30-day avg volume ($1 = 70.0900 Indian rupees)

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