Alok Industries Ltd enters into facility agreements with SBI for term loan, working capital facility

Alok Industries Limited has today, i.e., 6th December, 2023 entered into facility agreements with State Bank of India for availing:

i) Term loan of Rs.1750,00,00,000/- (Rupees One Thousand Seven Hundred and Fifty Crore only) for the purpose of repayment of existing loans from banks as a part of financial restructuring; and

ii) working capital facility of Rs. 90,00,00,000/- (Rupees Ninety Crore only) for the purpose of meeting working capital requirements of the Company.

The aforesaid facilities to be availed by the Company will be secured as follows:

Term Loan:

i) first ranking pari-passu charge over the moveable fixed assets (present and future) of the Company; and

ii) first ranking pari-passu charge over the immoveable properties of the Company and its subsidiary, viz., Alok Infrastructure Limited.

Working Capital:

i) first ranking pari-passu charge over the current assets (present and future) of the Company.

The facility agreements were executed by the Company today at around 01:00 p.m.

Shares of Alok Industries Limited was last trading in BSE at Rs. 20.20 as compared to the previous close of Rs. 19.94. The total number of shares traded during the day was 4247206 in over 5936 trades.

The stock hit an intraday high of Rs. 21.03 and intraday low of 19.86. The net turnover during the day was Rs. 86847681.00.

Source : Equity Bulls

Keywords

AlokIndustries INE270A01029 FacilityAgreements SBI TermLoan WorkingCapitalFacility