Apollo Micro Systems Ltd receives term loan sanction from SBI

Apollo Micro Systems Ltd has received sanction for a term loan of Rs. 110 crores from State Bank of India for the implementation of our upcoming project in Hardware Park, Hyderabad. This funding is allocated towards the establishment of the Integrated Plant for Ingenious Defence Systems (IPiDS) at Hardware Park, Hyderabad, as previously announced.

In addition to the term loan, the State Bank of India has also sanctioned the renewal and enhancement of the following credit facilities for a twelve-month period, up to 08th February, 2025:

1.The Cash Credit (CC) limit has been renewed and enhanced from an existing limit of Rs. 52.50 crores to Rs. 57.50 crores.

2.The Inland Bank Guarantee (IBG) limit has been renewed and enhanced from an existing limit of Rs. 40 crores to Rs. 50 crores.

3.The Inland Letter of Credit (ILC) limit has been renewed for Rs. 35 crores.

Source : Equity Bulls

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