Baroda Rayon Secures ₹80 Cr Loan from Aditya Birla Capital

Baroda Rayon Corporation Ltd has entered into a loan agreement with Aditya Birla Capital Limited (ABCL) for a term loan facility of ₹80.00 Crore. This facility includes the takeover of an existing consortium loan of ₹32.06 Crore from three cooperative banks and a fresh term loan of ₹47.94 Crore from ABCL. The purpose of this agreement is to refinance existing borrowings and optimize the company's financing costs for its commercial real estate project. The loan is secured by a first charge on specific immovable properties related to the 'SURAT TEXTILE BOURSE PHASE- 1/Part –A' project.