Tata Vitality on Thursday talked about its Mundra subsidiary has made the second tranche of repayment for its monetary institution loans. With this, the firm talked about, the total unit’s monetary institution loans own been fully repaid.
In a assertion to the BSE, Tata Vitality talked about Coastal Gujarat Vitality (CGPL), a completely owned subsidiary of the firm, repaid Rs 1,550 crore of monetary institution loans on Wednesday. CGPL homes Tata Vitality’s Mundra extremely-mega energy project, essentially essentially based completely in Gujarat.
“This action is fixed with the firm’s talked about draw of repaying debt in CGPL to in the reduction of the periodic debt servicing tasks of CGPL and thus making its operations more self-sustainable.”
The assertion talked about the subsidiary in October repaid Rs 2,600 crore of monetary institution loans. “With this repayment (Rs 1,550 crore) and an earlier repayment of Rs 2,600 crore of monetary institution loans made in October 2020, your total monetary institution loans of CGPL, aggregating to Rs 4,150 crore, own been fully repaid.”
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