XTGlobal Infotech Ltd and ICICI Bank Ltd enter into loan agreement

ICICI Bank Limited ("Lender") and XTGlobal Infotech Limited ("Borrower") have entered into a loan agreement for Rupee Term Loan of up to X250.00 million (Rupees Twenty-Five Crores only).

The purpose of entering into the agreement is to make exit application and re payment of duty exemptions availed while construction of office facility at Madhurawada IT/ITES SEZ Visakhapatnam, thereby enabling the Company to let out its unutilized surplus space on rental basis, with an expected positive impact on the bottom line by approximately Rs. 5 crores per annum and for infrastructure development and related business requirements.

The Company may also avail temporary overdraft/temporary accommodation facilities, if required.

Shares of Xtglobal Infotech Ltd was last trading in BSE at Rs. 33.27 as compared to the previous close of Rs. 34.32. The total number of shares traded during the day was 3916 in over 134 trades.

The stock hit an intraday high of Rs. 34.99 and intraday low of 32.46. The net turnover during the day was Rs. 131846.00.

Source : Equity Bulls

Keywords

XtglobalInfotech INE547B01028 LoanAgreement ICICIBank RupeeTermLoan