“In terms of the guidelines issued by Reserve Bank of India, the Company has issued commercial paper for an aggregate amount of Rs. 25 crores on December 26, 2016 in favor of ICICI Bank Limited,” the company said in a filing to the Bombay Stock Exchange.
These commercial papers have maturity date of March 17, 2017, the filing added.
Solar Industries India has grown to become India’s largest manufacturer of Industrial explosives and Explosive initiating systems and spreading its presence to Global Markets.
Meanwhile, shares of the company closed trading at Rs 660 apiece, down 0.25 per cent from the previous close on BSE.