Shalby Limited provides guarantee for overseas subsidiary

Shalby Limited has provided security by way of Stand by Letter of Credit (Guarantee) amounting to USD 9.45 million (US Dollar Nine point Forty Five Million Only) issued by ICICI Bank Limited, India in favour of ICICI Bank Limited, USA to secure working capital facilities granted to Shalby Advanced Technologies, Inc., USA (an overseas step-down subsidiary of the Company) pursuant to the Facility Agreement.

Shares of Shalby Limited was last trading in BSE at Rs. 155.10 as compared to the previous close of Rs. 154.30. The total number of shares traded during the day was 9059 in over 662 trades.

The stock hit an intraday high of Rs. 156.85 and intraday low of 154.25. The net turnover during the day was Rs. 1409633.00.

Source : Equity Bulls

Keywords

Shalby INE597J01018 Guarantee OverseasSubsidiary