Eris Lifesciences Limited enters into term loan agreement with Citi Bank N.A.

Eris Lifesciences Limited has entered into Term Loan Agreement dated 21 August 2023 to avail the Rupee Term Loan facility amounting to ₹120.82 Crores (Rupees One Hundred Twenty Crores Eighty-Two Lakhs Only) from Citi Bank N.A. ("Bank"). However, the consolidated net debt of the Company is not expected to be altered due to this development as an equivalent amount is expected to be paid by Eris Oaknet Healthcare Private Limited ("EOHPL"), to Citi bank towards repayments of outstanding loans over the next fortnight.

The Bank shall have a pari-passu charge along with HDFC Bank on the trademarks acquired from Eris Oaknet Healthcare Private Limited.

Shares of Eris Lifesciences Limited was last trading in BSE at Rs. 848.85 as compared to the previous close of Rs. 846.75. The total number of shares traded during the day was 11231 in over 1118 trades.

The stock hit an intraday high of Rs. 859.95 and intraday low of 830.00. The net turnover during the day was Rs. 9468439.00.

Source : Equity Bulls

Keywords

ErisLifesciences INE406M01024 TermLoanAgreement CitiBankNA