Shree Renuka Sugars trades higher on obtaining five-year transition finance facility from DBS Bank
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Shree Renuka Sugars is currently trading at Rs. 45.20, up by 0.60 points or 1.35% from its previous closing of Rs. 44.60 on the BSE.
The scrip opened at Rs. 43.50 and has touched a high and low of Rs. 45.35 and Rs. 43.00 respectively. So far 659450 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 63.25 on 25-Apr-2022 and a 52 week low of Rs. 13.75 on 14-May-2021.
Last one week high and low of the scrip stood at Rs. 51.55 and Rs. 40.40 respectively. The current market cap of the company is Rs. 9418.57 crore.
The promoters holding in the company stood at 62.48%, while Institutions and Non-Institutions held 12.65% and 24.87% respectively.
Shree Renuka Sugars (SRSL) has obtained a five-year Rs 175 crore (SGD 31 million) transition finance facility from DBS Bank, in order to support India's push to double the country's ethanol distillation capacity and blend 20% of ethanol in petrol by 2025.
The proceeds will be used to finance the expansion of SRSL's sustainable bioethanol business in India. This is believed to be the first transition loan to be provided by a foreign bank to India's biofuel manufacturing industry. SRSL's focus on the capacity expansion of its bioethanol plants in India supports its commitment towards promoting sustainable growth and combating climate change.
Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.
