On 13th March, 2019, Steelco Gujarat Ltd has received USD 400,000 from M/s. COSTRONAL HOLDINGS SA, a Company incorporated under the laws of the Republic of Panama, as one of the tranches of Unsecured Loan, towards further remittance of same to the Lead Bank of the consortium banks, as an initial deposit as a part of the One-Time Settlement (OTS) proposal, being under consideration by the consortium bankers, as per the Proposal of the Company dated 22nd October, 2018 and the Lead Bank's letter dated 31" December, 2018.
The Purpose of Loan is towards payment of OTS amount to Lead Bank, as per proposal of the Company and the Bank's letter, as mentioned hereinabove.
The Size of agreement is USD 8,300,000.
Shares of STEELCO GUJARAT LTD. was last trading in BSE at Rs.2.18 as compared to the previous close of Rs. 2.08. The total number of shares traded during the day was 530 in over 3 trades.
The stock hit an intraday high of Rs. 2.18 and intraday low of 2.08. The net turnover during the day was Rs. 1153.