April 02, 2022
To, | To, |
National Stock Exchange of India Limited, | BSE Limited, |
Listing Department, | The Department of Corporate Services |
Exchange Plaza, | Phiroze Jeejeebhoy Towers, Dalal Street, |
Bandra (E), Mumbai - 400 051 | Mumbai 400 001 |
Ref Symbol: VASCONEQ | Ref: Scrip Code: 533156 |
Kind Attn: The Manager | Kind Attn: The Manager |
Listing Department | Department of Corporate Services |
Dear Sir/Madam, |
Subject: Outcome of Board Meeting held on April 02, 2022
Pursuant to provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting concluded today, inter alia, has approved the following:-
1.
Approved availing of term loan facility of Rs. 30.00 Crores from Aditya Birla Finance Limited at 13.00% rate of interest. The aforesaid facility shall be utilized to prepay the existing loan of Rs. 24.33 Crores from JM Financial Credit Solutions Limited having 17.20% rate of interest and balance shall be utilized for completion of the project "Vascon Good Life" and other project expenses.
The meeting of the Board of Directors commenced at 1400 hours and concluded at 1430 hours.
Kindly take the same on your records.
Thanking You.
For Vascon Engineers Limited
Vibhuti Dani
Company Secretary and Compliance Officer