Maharashtra Seamless prepays loan of Rs 315 crore; Stock rises

12 Oct 2022 , 10:33 AM

Maharashtra Seamless Limited has made a voluntary prepayment of long term loan outstanding of Rs315 crore approx. to HDFC Bank Limited on October 10, 2022 from internal accruals of the Company.

“This long term loan was availed from HDFC Bank Limited in 2019 for part fund the acquisition of United Seamless Tubulaar Private Limited”, the company said in a regulatory filing.

Further, the aforesaid loan was repayable over a period of 10 years.

At around 10:34 AM, Maharashtra Seamless Ltd is currently trading at Rs819.90 per share up by Rs3.5 or 0.43% from its previous closing of Rs816.40 per share on the BSE.

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