Rajapalayam Mills Ltd updates on corporate guarantee of Rs. 40 crores to promoter group entity

Rajapalayam Mills Ltd had provided Corporate Guarantee to M/s. The Karur Vysya Bank Limited on 27-09-2023 on behalf of M/s. Sandhya Spinning Mill Limited for the value of Rs 40 Crores.

The Corporate Guarantee is provided in connection with the Corporate Term Loan facility of Rs 40 Crores sanctioned by M/s. The Karur Vysya Bank Limited to M/s. Sandhya Spinning Mill Limited.

Providing of Corporate Guarantee on behalf of M/s. Sandhya Spinning Mill Limited will strengthen the Credit worthiness of M/s. Sandhya Spinning Mill Limited which will enable M/s. Sandhya Spinning Mill Limited to borrow at competitive rate of interest / better terms & conditions.

Shares of RAJAPALAYAM MILLS LTD. was last trading in BSE at Rs. 804.50 as compared to the previous close of Rs. 794.10. The total number of shares traded during the day was 2278 in over 129 trades.

The stock hit an intraday high of Rs. 808.00 and intraday low of 782.00. The net turnover during the day was Rs. 1812028.00.

Source : Equity Bulls

Keywords

RAJAPALAYAMMILLS INE296E01026 CorporateGuarantee PromoterGroupEntity SandhyaSpinningMill