Oil Country Tubular Ltd Avails Term Loan Facility of Rs. 6.82 Crores
Oil Country Tubular Limited confirmed that its Board of Directors conducted a meeting on April 09, 2026, during which it approved a Term Loan Agreement. The financing facility is being availed from Cosmos Co-Operative Bank Ltd.The transaction involved approving the Term Loan Agreement dated April 9, 2026, for an amount totaling Rs. 6.82 Crores (Rupees Six Crores Eighty-Two Lakhs Only).
According to the details of the agreement, the primary purpose of the secured term loan is the Purchase of New Machinery/Equipment.
The financial details of the loan agreement are summarized below:
| Particulars | Details |
|---|---|
| Lender | Cosmos Co-Operative Bank Limited |
| Nature of Loan | Secured Term Loan (Machinery - New) |
| Total Amount of Loan Sanctioned | Rs. 6,82,00,000 (Rupees Six Crores and Eighty-Two Lakhs Only) |
| Date of Execution of Loan Agreement | 09.04.2026 |
| Security Provided | Hypothecation of Machinery/Equipment to be purchased, and Bank's Mortgage charge on Industrial Shed at Plot No. 5B2, Survey Nos. 245(P) & 246(P), Industrial Park, Vakalapudi, Thammavaram Village, Kakinada Mandal, East Godavari District, Andhra Pradesh. |
The company also noted that in relation to this agreement, Oil Country Tubular Limited holds 20 equity shares at the rate of Rs. 100/- each in Cosmos Co-Operative Bank Limited.
The Board meeting commenced at 11:30 A.M. (IST) and concluded at 12:25 P.M. (IST) on April 09, 2026.
OILCOUNTUB Stock Price Movement
Shares of Oil Country Tubular Limited are edging higher to ₹42.9 as of 12:42 PM today, rallying 3.50% in live trading. The stock is showing significant intraday interest, currently trading on a volume of 69,733 shares.Source:
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