Ircon Vadodara Kim Expressway repays loan of Rs589.50cr to IRCON International

The company had earlier announced about Corporate Guarantee furnished to the Bank of Baroda for a loan to Ircon Vadodara Kim Expressway Limited (IrconVKEL) (a wholly-owned subsidiary of IRCON).

Jul 20, 2021 04:07 IST India Infoline News Service

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Ircon Vadodara Kim Expressway Limited has repaid the total outstanding loan of Rs589.50cr to Ircon International Limited. The company had earlier announced about Corporate Guarantee furnished to Bank of Baroda for a loan to Ircon Vadodara Kim Expressway Limited (IrconVKEL) (a wholly-owned subsidiary of IRCON).

“Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and in continuation to our letter even no. dated 30th June 2021, regarding intimation about Corporate Guarantee furnished to Bank of Baroda for a loan to Ircon Vadodara Kim Expressway Limited (IrconVKEL) (a wholly-owned subsidiary of IRCON), it is to inform that IrconVKEL has repaid the total outstanding loan of RS.589.50 Crore to Ircon International Limited,” IRCON International said in the regulatory filing.

Today, the company has informed that it has completed 100 km track linking out of 372 km stretch entrusted to IRCON by Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) between Vaitarna-Sachin sections by using imported New Track Construction machine by IRCON.

Ircon International Ltd ended at Rs45.80 down by Rs0.3 or 0.65% from its previous closing of Rs46.10 on the BSE.

The scrip opened at Rs46.45 and touched a high and low of Rs46.70 and Rs45.60 respectively.

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