DCM Shriram Ltd. Secures Rs 200 Crore Sustainability Linked Loan from HSBC India

DCM Shriram Ltd, a leading conglomerate with diverse business presence in Agri-Rural, Chlor-Vinyl, and Value-added business, has successfully raised a Sustainability Linked Loan (SLL) of INR 200 Crore from HSBC India. This strategic financial move is aimed at supporting the company's ongoing Capital expenditure program in Bharuch, Gujarat.

Mr. Amit Agarwal, Executive Director & Group CFO of DCM Shriram Ltd, expressed his enthusiasm regarding this milestone achievement, stating, "This is our first Sustainability Linked Loan obtained from HSBC India, marking our unwavering dedication to our Environmental, Social, and Governance (ESG) objectives. We have embarked on projects worth approximately Rs 3500 crore, predominantly within our Sugar & Chemical divisions. Notably, projects in our Sugar business have already been commissioned, while those in the Chemicals business are nearing completion. Sustainability remains at the core of our operations, encompassing vital aspects such as water conservation, energy efficiency, renewable energy, and promoting circular economy. Please refer to our sustainability report available on our website for detailed insights into our sustainability efforts."

Commenting on this development, Ajay Sharma, Head-Commercial Banking, HSBC India said, "We're committed to provide financing to support and incentivize the transition to a more sustainable economy. We're pleased to support DCM Shriram Ltd in more closely linking their financing with their sustainability strategy, and look forward to working with clients across sectors, to further embed ESG considerations into the financing ecosystem."

This collaboration between DCM Shriram Ltd and HSBC India signifies a shared commitment towards fostering sustainability and responsible business practices, further solidifying their dedication to a greener and more responsible future.

Shares of DCM Shriram Limited was last trading in BSE at Rs. 1057.40 as compared to the previous close of Rs. 1046.15. The total number of shares traded during the day was 2233 in over 406 trades.

The stock hit an intraday high of Rs. 1070.00 and intraday low of 1046.00. The net turnover during the day was Rs. 2359086.00.

Source : Equity Bulls

Keywords

DCMShriram INE499A01024 SustainabilityLinkedLoan HSBCIndia