Pudumjee Paper Products to Subscribe to Additional Saraswat Bank Shares

Pudumjee Paper Products Ltd announced its Board of Directors has approved the subscription to additional shares of Saraswat Co-operative Bank Limited. The company is an existing borrower member of Saraswat Bank, holding 2,500 equity shares and a credit exposure of approximately Rs. 89 Crores. This subscription is in line with the bank's offer to eligible member-borrowers with low share-linkage levels and is linked to the company's existing credit facilities, not intended as a strategic investment or to gain control. The move is expected to strengthen the company's banking engagement.