The Baroda Rayon Corporation Limited announced that the company has entered into loan agreement to avail consortium Long Term Bank loan from The Mehsana Urban Co-op. Bank Ltd. (Lead Bank), The Sutex Co-op. Bank Ltd. (Member Bank) and Surat National Co-op.
Bank Ltd. (Member Bank) total amounting to 750 million for commercial real estate project. Size of the agreement: Total 750 million: The Mehsana Urban Co-op. Bank Ltd. - 450 million; The Sutex Co-op.
Bank Ltd. - 200 million; and Surat National Co-op. Bank Ltd. - 100 million. Nature of Loan: Secured loan.
Date of execution of the loan agreement: September 15, 2023.