BirlaNu Ltd Extends SBLC Validity by Three Months for German Subsidiary
BirlaNu Limited has extended the validity period of a Standby Letter of Credit (SBLC) issued in favor of ICICI Bank UK PLC, Germany Branch. The extension provides additional coverage for working capital loan facilities sought by the company's German subsidiary.The SBLC was originally granted to secure working capital demand loan facilities intended to be availed by BirlaNu International GmbH, located in Germany. The guarantee covers an aggregate amount up to EUR 10.73 million and is held by ICICI Bank UK PLC.
BirlaNu Limited confirmed that the validity of the aforementioned SBLC has been extended for a further three months. This extension increases the total validity period of the SBLC from the original twelve months to fifteen months. All other details pertaining to the SBLC remain unchanged.
The status of the Standby Letter of Credit is detailed below:
| Detail | Specification |
|---|---|
| Guarantor | BirlaNu Limited |
| Beneficiary Bank | ICICI Bank UK PLC, Germany Branch |
| SBLC Amount | Up to EUR 10.73 million |
| Original Validity | 12 months |
| Extension Granted | 3 months |
| New Total Validity | 15 months |
BIRLANU Stock Price Movement
Shares of BirlaNu Limited slipped by 1.29% on Friday, settling at ₹1347.9 after shedding ₹17.50 from the previous close. The stock finished with a traded volume of 5,810 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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