Loan & Debt22 Oct 2026, 05:00 pm
Vibhor Steel Tubes Lends ₹5 Cr to Wholly Owned Subsidiary
AI Summary
Vibhor Steel Tubes Ltd announced that its Board of Directors has approved a loan of INR 5 Crores to its wholly owned subsidiary, Viyom Steel Infra Private Limited. The loan is intended for the subsidiary's working capital requirements and the purchase of land for setting up a commercial manufacturing facility for infrastructure-related products. The loan carries an interest rate of 9.5% and is repayable on demand, with a maximum period of 10 years. This is in addition to a previous loan of ₹20 Crores extended to the same subsidiary.
Key Highlights
- Board approved loan of ₹5 Crores to wholly owned subsidiary.
- Loan to fund subsidiary's working capital and land acquisition.
- Interest rate set at 9.5% with a 10-year repayment term.
- This is an unsecured loan with no collateral provided.
- Previous loan of ₹20 Crores to the subsidiary remains outstanding.
Price Impact
More from VSTL