IOL Chemicals up 3% on term-loan pre-payment announcement

The company has made the pre-payment of the term loan of Rs107.70cr till date to reduce its term debt.

Aug 21, 2019 06:08 IST India Infoline News Service

Shares of IOL Chemicals & Pharmaceuticals Ltd. are trading higher by 3% currently and were up 4% intraday after the company reported that it had prepaid a long-term loan.

IOL Chemicals said, "The company has made the pre-payment of the term loan of Rs9.52cr due to banks in addition to scheduled repayment."

The company has made the pre-payment of the term loan of Rs107.70cr till date to reduce its term debt, which currently stands at Rs123.45cr as of date.

IOL Chemicals & Pharmaceuticals Ltd is currently trading at Rs190.65 up by Rs6.55 or 3.56% from its previous closing of Rs184.10 on the BSE.

The scrip opened at Rs188 and has touched a high and low of Rs191.15 and Rs186.50 respectively. So far 2,89,465 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,047.30cr.

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