SBI sanctions ₹1230 Crore credit to HEG's subsidiary, TACC Limited
SBI sanctioned ₹1230 crore credit to TACC Limited, a wholly-owned subsidiary of HEG, for a greenfield manufacturing plant producing 20,000 MTPA of Lithium-ion battery grade Graphite Anode in Dewas, MP.
The credit facility will enable the subsidiary to establish a new manufacturing plant, which can have a positive impact on the company's future growth and revenue.
The announcement indicates a positive development for HEG Limited as its subsidiary receives substantial financial backing to expand its manufacturing capabilities.
* State Bank of India has sanctioned a credit facility of ₹1230 crore to TACC Limited. * TACC Limited is a wholly-owned subsidiary (WOS) of HEG Limited. * The financial assistance will be used for part funding of a project. * The project involves developing a greenfield manufacturing plant in Dewas, Madhya Pradesh. * The plant will produce 20,000 MTPA of Lithium-ion battery grade Graphite Anode.
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HEG Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by HEG Limited. Read the original for the full detail.