Rajratan Global Wire stock jumps over 3.5% after MP Industrial Development sanctions IPA of Rs19.74cr under Nivesh Protsahayan Yojana

The eligibility period of assistance is 7 years.

Sep 22, 2021 11:09 IST India Infoline News Service

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Rajratan Global Wire Ltd has informed the exchange regarding intimation of Receipt of Subsidy / Investment Promotion Assistance by MP Industrial Development Corporation Limited under Madhya Pradesh Nivesh Protsahayan Yojana, 2014 / Investment Promotion Assistance Scheme.

In a regulatory filing, company said that MP Industrial Development Corporation Limited (Government of Madhya Pradesh Undertaking) had sanctioned Investment Promotion Assistance (IPA) for an amount not exceeding Rs19.74cr under Madhya Pradesh Nivesh Protsahayan Yojana, 2014 / Investment Promotion Assistance Scheme to the Company.

The eligibility period of assistance is 7 years ( Nov 10, 2019 to Nov 09, 2026) and the yearly sanctioned amount of IPA is Rs2.82cr.

Further, the Company had received the value of first year of Rs2.82cr of assistance and second tranche of assistance has also now been received by the Company.

At around 11:45 AM, Rajratan Global Wire was trading at Rs2,087 apiece up by Rs71.15 or 3.53% on Sensex.

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