Insolation Energy Ltd to increase corporate guarantee of Insolation Green Energy Pvt Ltd

The Board of Directors of Insolation Energy Limited at its meeting held on Wednesday, December 21, 2022 has decided to increase the existing Corporate Guarantee of Rs. 18 Crore (Rupees Eighteen Crores) to Rs. 30 Crores (Rupees Thirty Crores).

The existing Corporate guarantee was given to State Bank of India, VKIA branch, Jaipur against the Term loan of Rs. 15 Crores (Rupees Fifteen Crores) and Cash Credit limit of Rs. 03 Crore (Rupees Three Crore) obtained by IGEPL from State Bank of India, VKIA branch, Jaipur.

For working capital requirements, IGEPL has further requested the State Bank of India, VKIA branch, Jaipur to review the Limits. The Bank has through its sanction letter dated December 17, 2022 enhanced the Cash Credit limit of Rs. 03 Crore (Rupees Three Crore) to Rs. 15 Crore (Rupees Fifteen Crores), and the Term loan remains the same. Accordingly, the existing Corporate Guarantee is increased to Rs. 30 Crores (Thirty Crores).

Shares of Insolation Energy Limited was last trading in BSE at Rs. 106.70 as compared to the previous close of Rs. 117.20. The total number of shares traded during the day was 174000 in over 58 trades.

The stock hit an intraday high of Rs. 121.00 and intraday low of 103.55. The net turnover during the day was Rs. 19578900.00.

Source : Equity Bulls

Keywords

InsolationEnergy INE0LGX01016 ElectricUtilities CorporateGuarantee Increase