CMR Green Technologies Limited has announced the sanction and enhancement of substantial credit facilities totaling ₹480 crore. The company received a sanction letter from HDFC Bank Limited for ₹210 crore in fund-based and non-fund-based facilities. Additionally, Axis Bank Limited has renewed and enhanced existing working capital facilities and sanctioned a fresh term loan, bringing the total enhancement from Axis Bank to ₹274 crore. These increased credit lines are expected to strengthen the company’s liquidity and support business operations.
HDFC Bank Sanctions Credit Facilities
CMR Green Technologies Limited has received a sanction letter from HDFC Bank Limited for availing new credit facilities. The total sanctioned limit from HDFC Bank amounts to ₹210 crore. This includes ₹170 crore in fund-based facilities and ₹40 crore in non-fund-based facilities. The fund-based facilities encompass a Cash Credit of ₹50 crore, Working Capital Demand Loan (WCDL) of ₹50 crore (sublimit of CC), Sales Bill Discounting of ₹120 crore, with further sub-limits for sales invoice financing, SBLC, and buyer’s credit through GIFT City/Foreign Branch.
Axis Bank Enhances and Renews Facilities
In a separate announcement, the company detailed the renewal and enhancement of credit facilities from Axis Bank Limited. This includes working capital credit facilities and the sanction of a fresh term loan. The revised limit for Cash Credit (CC) and its sublimit has increased from ₹52 crore to ₹102 crore. Sales invoice discounting remains at ₹40 crore, bringing the total fund-based (FB) facilities to ₹142 crore. Non-fund-based (NFB) facilities, including Letter of Credit (LC) and its sublimit, remain at ₹75 crore. The total working capital facilities have been enhanced to ₹217 crore. Furthermore, a new Term Loan of ₹32 crore has been sanctioned, along with other facilities bringing the total others to ₹25 crore. The grand total of credit facilities from Axis Bank stands at ₹274 crore.
Strengthened Financial Position
The combined credit facilities from both HDFC Bank and Axis Bank, totaling ₹484 crore (₹210 crore + ₹274 crore), significantly bolster CMR Green Technologies’ liquidity position. This strategic enhancement of credit lines is expected to facilitate the smooth conduct of its business operations and support its working capital requirements.
Source: BSE
