Mukand Ltd executes term loan agreement for availing unsecured term loan

Mukand Ltd have executed a Term Loan Agreement with a Bank on 26th September, 2020 for availing a promoter backed unsecured term loan at competitive rate of interest, initially for an amount of Rs. 650 Crore (Rupees Six Hundred and Fifty Crore only) and an additional loan amount of Rs. 350 Crore (Rupees Three Hundred and Fifty Crore only), subject to approval of the shareholders of the Company for increase in borrowing powers of the Company, thereby aggregating to Rs. 1,000 Crore (Rupees One Thousand Crore only).

The tenure of the loan is for 2 (two) years and the disbursement of the term loan is subject to fulfilment of certain conditions. The aforesaid loan will be utilised for refinancing existing high cost borrowings of the Company which should result significant saving of interest costs.

Shares of MUKAND LTD. was last trading in BSE at Rs.42.1 as compared to the previous close of Rs. 40.1. The total number of shares traded during the day was 2944 in over 22 trades.

The stock hit an intraday high of Rs. 42.1 and intraday low of 42.1. The net turnover during the day was Rs. 123942.

Source : Equity Bulls

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