Business Update27 Jun 2024, 01:46 am
NRB Bearings Ltd. Approves Working Capital Facilities of up to Rs. 25 Crores from The Hongkong and Shanghai Banking Corporation Limited
AI Summary
NRB Bearings Ltd. announced that its Board of Directors approved the availing of Working Capital facilities, both fund based and non-fund based, amounting to Rs. 25,00,00,000 (Rupees Twenty-Five Crores only) from The Hongkong and Shanghai Banking Corporation Limited. The decision was made during a Board Meeting held on Wednesday, June 26, 2024, from 7:30 p.m. to 8:02 p.m. The meeting's primary objective was to consider and approve the aforementioned Working Capital facilities.
Key Highlights
- NRB Bearings Ltd. to avail Working Capital facilities of up to Rs. 25 Crores from The Hongkong and Shanghai Banking Corporation Limited.
- The approval came during the Board Meeting held on June 26, 2024.
- The facilities include both fund based and non-fund based options.
- The Board Meeting commenced at 7:30 p.m. and concluded at 8:02 p.m.
- This decision is in compliance with the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.