Corporate News     20-Mar-15
Alok Industries updates on advance received under EPBG facility
To the tune of USD 475 million
Alok Industries announced that with reference to the sanction to the Company by State Bank of India, Backbay Reclamation Branch, Nariman Point, Mumbai of, inter-alia, the facility of an Export Performance Bank Guarantee (EPBG) of up to USD 1633.33 million equivalent to about Rs. 9800 crore, that out of the aforesaid total advance and in addition to the USD 250 million received on 13 January 2015, an additional Advance amounting to USD 125 million was received on 05 February 2015 and USD 40 million has been received on 20 March 2015 by the Company's Authorised Dealer on the Company's behalf.

The Company expects a further advance of USD 60 million to come in next week thus taking the total advance received to USD 475 million.

Previous News
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