Ajmera Realty & Infra India Ltd has secured credit facilities of â¹500 crore from Standard Chartered Bank and ICICI Bank.
According to the companyâs stock exchange filing, the funds will be used for the execution of Ajmera Manhattan, a residential project situated in Wadala, Mumbai. Additionally, a portion of the funds amounting to â¹200 crore has been used towards the partial pre-payment of the GCP loan availed from HDFC Bank.
Dhaval Ajmera, Director of Ajmera Realty & Infra India Ltd, said âThis structured deal represents a strategic step forward in maintaining our unwavering dedication to our companyâs objectives. The successful execution of this deal highlights our companyâs financial reliability and creditworthiness, reinforcing our commitment to achieving our 5x growth vision.âÂ
Ajmera Realty & Infra India stock declined by 2.71 per cent on the NSE, trading at â¹703.10 as of 11.53 am on Wednesday.
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