Sutlej Textiles and Industries issues Commercial Paper of Rs 35 crore

27 Oct 2014 Evaluate

Sutlej Textiles and Industries, (STIL), a leading manufacturer of value added dyed yarns (synthetic & cotton melange) and home textiles, has issued additional Commercial Paper (CP) of Rs 35 crore. Post this offering, the Company has issued CP aggregating to Rs 60 crore.

The CP issue has been rated CARE A1+ by Credit Analysis & Research, (CARE). Instruments with the aforesaid rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

The rating derives strength from the experience of the promoters in the Textile industry (especially the dyed yarn segment) and business profile being amongst India’s leading player in the dyed spun yarn and value added / speciality yarn.

Sutlej Textiles and Industries has 260,872 spindles for spinning yarn, six million metres a year for apparel fabrics, 1.6 million trousers a year and 3 million metres a year for home textiles fabric. It has plants in Jammu and Kashmir, Rajasthan and Gujarat.

Sutlej Textiles&Inds Share Price

64.85 1.10 (1.73%)
02-Dec-2022 18:01 View Price Chart
Peers
Company Name CMP
Trident 37.55
Filatex India 97.55
Nahar Spinning Mills 306.45
Sutlej Textiles&Inds 64.85
Nitin Spinners 207.35
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