CCL Products India Ltd to issue letter of undertaking to HDFC Bank for subsidiary's debt facility

The Board of Directors of CCL Products (India) Limited in their just concluded meeting approved to issue Letter of Undertaking to HDFC Bank in connection with the credit facility of Rs. 320 Crores availed by its wholly owned subsidiary, M/s. CCL Food and Beverages Private Limited, towards setting up of green field project for manufacturing of spray dried instant coffee with installed capacity of 16000 Mts per annum at Kuvvakolli Village, Tirupati District, Andhra Pradesh.

The Letter of Undertaking will enable the bank to extend the credit facility at competitive terms and conditions.

The Company is to ensure that the Borrower (the wholly owned subsidiary) makes payment in full of its Outstanding Debt Obligations to the Bank in relation to the Credit Facility.

Shares of CCL Products (India) Limited was last trading in BSE at Rs. 624.20 as compared to the previous close of Rs. 629.45. The total number of shares traded during the day was 4629 in over 342 trades.

The stock hit an intraday high of Rs. 630.65 and intraday low of 622.40. The net turnover during the day was Rs. 2894563.00.

Source : Equity Bulls

Keywords

CCLProductsIndia INE421D01022 CCLFoodandBeverages LetterofUndertaking HDFCBank CreditFacility