Nirlon Ltd to avail Rs. 1230 crores green loan from HSBC

Nirlon Limited, has executed a green loan agreement and an overdraft facility with the Hongkong and Shanghai Banking Corporation Limited (HSBC) on April 30, 2022, to avail loan / credit facilities for an aggregate sum of up to Rs.12,300,000,000 (Indian Rupees One Thousand Two Hundred and Thirty Crore Only).

The proceeds from the said loan / credit Facilities will be used to repay the existing Loan availed by the Company from HDFC Limited along with attendant prepayment charges and other re-financing costs.

The security provided for the above loan is exclusive charge over immovable property of the Company including both land and buildings of Nirlon Knowledge Park (NKP) in Goregaon (East), Mumbai – 400 063, first and exclusive charge over license fee receivables from Nirlon Knowledge Park, escrow account and first and exclusive lien and right of set off over DSRA.

Shares of NIRLON LTD. was last trading in BSE at Rs. 396.00 as compared to the previous close of Rs. 402.55. The total number of shares traded during the day was 4973 in over 62 trades.

The stock hit an intraday high of Rs. 406.00 and intraday low of 392.00. The net turnover during the day was Rs. 1967016.00.

Source : Equity Bulls

Keywords

NIRLON INE910A01012 GreenLoan HSBC