Emerald Finance Ltd raises Term Loan of Rs. 10 crores from ICICI Bank

Emerald Finance Limited has raised a Term Loan of ₹10,00,00,000/- (Rupees Ten Crores Only) from ICICI Bank Limited for further expansion of its business operations.

The funds shall primarily be utilized for onward lending activities, including the Company's Earned Wage Access (EWA) Program. Under this program, employees of leading corporates are provided seamless access to a portion of their earned salaries during the month through shortterm credit facilities offered in association with their employers.

With the sanction of this facility, the Company now enjoys banking relationships with two of India's largest public and private sector banks, namely State Bank of India and ICICI Bank Limited. The Company believes that these relationships will further strengthen its funding profile, enhance operational scalability, and support the continued growth of its lending business.

Shares of Emerald Finance Ltd was last trading in BSE at Rs. 53.68 as compared to the previous close of Rs. 53.15. The total number of shares traded during the day was 49537 in over 342 trades.

The stock hit an intraday high of Rs. 55.50 and intraday low of 52.71. The net turnover during the day was Rs. 2651807.00.

Source : Equity Bulls

Keywords

EmeraldFinance INE030Q01015 TermLoan ICICIBank