Strides Pharma Science Ltd provided corporate guarantee to Trinity Pharma Proprietary Ltd's borrowing

Trinity Pharma Proprietary Limited (Trinity), a step-down subsidiary of Strides Pharma Science Limited in South Africa, has availed credit facility from Investec for Business, a division of Investec Bank Limited, South Africa, for their working capital requirements of ZAR 70 million (~INR 315 million).

In order to facilitate the said borrowing of Trinity, Strides group entities have provided support in the form of Corporate Guarantee/ Letter of Support, amongst others in favour of Investec.

Shares of Strides Pharma Science Limited was last trading in BSE at Rs. 600.75 as compared to the previous close of Rs. 590.00. The total number of shares traded during the day was 29254 in over 1426 trades.

The stock hit an intraday high of Rs. 607.60 and intraday low of 588.25. The net turnover during the day was Rs. 17426162.00.

Source : Equity Bulls

Keywords

StridesPharmaScience INE939A01011 TrinityPharmaProprietary CorporateGuarantee CreditFacility