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| Exchange Disseminated Time | Gangotri Textiles Ltd has informed BSE that Company on March 10, 2006, has executed loan documents for availing Rupee Term Loan of Rs 2570 million for the Companies Expansion cum Integration Project at Coimbatore.
M/s SBI Capital Markets Ltd, Mumbai has arranged and syndicated this Term Loan for the Company through Consortium of Bankers, which include the following Bank:
1. Canara Bank
2. Corporation Bank
3. State Bank of Indore
4. State Bank of Mysore
5. Syndicate Bank
6. State Bank of India
7. State Bank of Travancore
8. State Bank of Hyderabad
The land for the Project has already been acquired and building construction work has commenced. To meet part of its fund requirements for the Project the Company is coming out with the follow on Public Issue of Rs 550 million under book building process. The Company has already filed the DRHP with SEBI and is awaiting SEBI's clearance.
Further the Company has informed that on March 02, 2006 the Company's Board has allotted 16 lakhs Share warrants of Rs 50/- each to the Promoter group amounting to Rs 80 million. Each Share warrant will be convertible into one Equity Share at the rate of Rs 50/- each (at a premium of Rs 45/-) within 18 months. |
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