PTC India Financial Services Ltd sanctioned Rs. 300 crore by SBI

PTC India Financial Services Limited (PFS), the leading bank of the country, i.e. State Bank of India (SBI), has sanctioned us a Term loan - WC Augmentation (TLWC) of Rs. 300 cr with a door to door tenor of 3 years including a moratorium of 6 months, with sublimit of Rs. 300 cr as investment limit for investment in CPs/NCDs/Bonds within the overall TLWC limit.

The money to be received from current sanction will be utilized for further strengthen the cash flow of our company and for onward funding to sustainable infrastructure finance projects. SBI has already given credit lines of Rs, 1,400 crore (current outstanding of around Rs.999.74 crore) to us and now with current sanction their exposure will increase to Rs. 1,700 crore and it will further diversify our sources of borrowings. PFS proposes to have further alternate sources of financing like ECB, Commercial Paper, Bonds etc. for which advance progress has already been made.

Shares of PTC INDIA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.13.2 as compared to the previous close of Rs. 12.85. The total number of shares traded during the day was 330086 in over 856 trades.

The stock hit an intraday high of Rs. 13.99 and intraday low of 12.72. The net turnover during the day was Rs. 4428743.

Source : Equity Bulls

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