The announcement was made during trading hours today, 28 November 2011.
Meanwhile, the BSE Sensex was up 348.29 points, or 2.22%, to 16,043.72.
On BSE, 26.62 lakh shares were traded in the counter as against an average daily volume of 7.04 lakh shares in the past one quarter.
The stock hit a high of Rs 217.90 and a low of Rs 188.50 so far during the day. The stock had hit a 52-week low of Rs 168 on 22 November 2011. The stock had hit a 52-week high of Rs 605.10 on 25 November 2010.
The stock had underperformed the market over the past one month until 25 November 2011, sliding 26.77% compared with the Sensex's 9.04% decline. The scrip had also underperformed the market in past one quarter, falling 8.20% as against 2.79% slide in the Sensex.
The mid-cap education solutions provider has an equity capital of Rs 19.20 crore. Face value per share is Rs 2.
Educomp Solutions said the sanction came at a limited recourse of 20%. The company said it is also expecting sanctions from other banks towards the securitization program in due course.
On a consolidated basis, Educomp Solutions' net profit tumbled 65.15% to Rs 12.77 crore on 9.35% increase in net sales to Rs 319.77 crore in Q2 September 2011 over Q1 June 2010.
Educomp Solutions is a globally diversified education solutions provider and the largest education company in India. It reaches out to over 26,000 schools and 15 million learners and educators across the world.