HAL places ₹2,000-cr CP with SBI MF

Our Bureau Chennai | Updated on June 17, 2020


Hindustan Aeronautics on Wednesday placed commercial papers worth ₹2,000 crore in favour of SBI Mutual Fund. While it priced the issue at ₹99.0693/share, the maturity date is September 15, 2020, and the discount rate is 3.81 per cent.

The CP is a part of fund based limit of ₹10,000 crore as approved by the board in its meeting held on January 21, 2020. “The competent uthority has granted its approval for enhancement of working capital limit to ₹12,050 from ₹7,300 crore including issuance of commercial papers of maximum of ₹5,000 crore, as sanctioned by SBI and other consortium banks,” HAL had then said. Shares of Hindustan Aeronautics closed flat at ₹706.9 on the BSE.

Published on June 17, 2020

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