SBI sanctions Non-Fund based limits of Rs. 150 crores to Capacit'e Infraprojects Ltd

Capacit'e Infraprojects Limited have received sanction for Non Fund based limits totalling to Rs 150 crores from State Bank of India which is also the consortium leader. The limits will help the company in realising its pending receivable in the form of retention monies and mobilisation advance from the existing on-going projects.

The company conveyed its gratitude to State Bank of India for their continuous support to the Company. The company is also engaging with other consortium members for sanction of balance assessed limits. It is hopeful that the other consortium members will also take up their part of assessed limits shortly.

Considering that we have been able to tie up enhanced working capital limits which will further improve the liquidity position in short to medium term, we will be approaching the Rating Agency to reconsider their view as the reason quoted was "The downgrade reflects CIL's inability to tie up enhanced working capital limits, continued blockage of working capital and a delay in recovering its pending receivables, resulting in a further stretch in its working capital."

Shares of Capacit'e Infraprojects Limited was last trading in BSE at Rs. 127.00 as compared to the previous close of Rs. 128.35. The total number of shares traded during the day was 2749 in over 278 trades.

The stock hit an intraday high of Rs. 129.00 and intraday low of 126.10. The net turnover during the day was Rs. 351239.00.

Source : Equity Bulls

Keywords

CapaciteInfraprojects INE264T01014 NonFundBased Limits SBI