Alok Industries receives $250 million from SBI

14 Jan 2015 Evaluate

Alok Industries has received an initial advance of $250 million (about Rs 1,550 crore) from State Bank of India (SBI) under the Export Performance Bank Guarantee scheme. The bank had earlier sanctioned a loan of up to $1,633.33 million (Rs 9,800 crore) to the textile major. The company is confident of receiving the balance amount of up to $1,383.33 million.

Alok Industries evolved from a small trading business into India’s largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting.

Alok Inds Share Price

23.55 0.75 (3.29%)
May 17, 16:35 View Price Chart
Peers
Company Name CMP
Welspun India 68.00
PDS 1627.05
Vardhman Textiles 345.35
Arvind 109.00
Alok Inds 23.55
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