Bank loans

Mukand will benefit from bank loans totaling Rs 400 cr

Repay existing high-cost borrowings

Mukand signed loan agreements with a bank on July 14, 2022, for using developer-backed unsecured loans as a term loan/working capital loan at competitive interest rates in an amount totaling Rs. 400 crores. The above loans will be used to refinance the Company’s existing high cost borrowings and for general business purposes.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First published: Friday July 15, 2022. 10:27 IST