Exicom Tele-Systems Ltd enters into loan agreement with Exicom Power Solutions B.V.

Exicom Tele-Systems Limited ("the Company") on today, entered into a Loan Agreement ("Agreement") with Exicom Power Solutions B.V., Netherlands, a Wholly Owned Subsidiary of the Company, (the Borrower) for granting an additional unsecured loan of Rs. 125.00 Crores (Rupees One Hundred Twenty Five Crores Only) to Exicom Power Solutions B.V., Netherlands ("Borrower"). The purpose of this loan is for the Borrower to infuse the funds in its wholly-owned subsidiaries in the USA and Australia respectively. These subsidiaries will use the funds to support their primary business activities and to facilitate business growth and expansion.

Shares of Exicom Tele-Systems Limited was last trading in BSE at Rs. 400.70 as compared to the previous close of Rs. 401.60. The total number of shares traded during the day was 30208 in over 994 trades.

The stock hit an intraday high of Rs. 404.80 and intraday low of 396.00. The net turnover during the day was Rs. 12099121.00.

Source : Equity Bulls

Keywords

ExicomTeleSystems INE777F01014 HeavyElectricalEquipment ExicomPowerSoluionBV Netherlands LoanAgreement