UltraTech Cement surges on raising $500 million through sustainability-linked loan
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Ultratech Cement is currently trading at Rs. 11358.30, up by 21.05 points or 0.19% from its previous closing of Rs. 11337.25 on the BSE.
The scrip opened at Rs. 11419.60 and has touched a high and low of Rs. 11440.00 and Rs. 11342.45 respectively. So far 2481 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 12078.15 on 02-Jul-2024 and a 52 week low of Rs. 8050.00 on 04-Oct-2023.
Last one week high and low of the scrip stood at Rs. 11440.00 and Rs. 11165.00 respectively. The current market cap of the company is Rs. 327960.15 crore.
The promoters holding in the company stood at 59.99%, while Institutions and Non-Institutions held 32.59% and 7.48% respectively.
UltraTech Cement has successfully raised $500 million through a sustainability-linked loan with participation from six banks. The transaction marks the second sustainability-linked financing raised by the company, subsequent to its inaugural sustainability-linked bond issuance in 2021. This financing signifies the company’s ongoing commitment to align its funding strategy with its sustainability and ESG goals.
This financing is aligned with the company's recently published Sustainability-Linked Financing Framework which covers the company’s future sustainability-linked bond and loan issuances. The company’s Framework is aligned with the Sustainability-Linked Bond Principles published by the ICMA, the Sustainability-Linked Loan Principles published by the LMA/LSTA/APLMA and has received a Second Party Opinion from S&P Global Ratings.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
