SPIC raises ₹89.35 cr. in first tranche of ECB

Southern Petrochemical Industries Corporation Ltd. (SPIC) on Wednesday raised a sum of ₹89.35 crore to meet its capital requirement for FY23.

In this regard, the company had executed a long-term agreement with one of the related parties to avail ₹180 crore through external commercial borrowings (ECB).

The first tranche of ₹89.35 crore was received on Wednesday and HDFC Bank was engaged as authorised dealer, it said in a regulatory filing.

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