Somany Ceramics has raised Rs 25 crore through issuance of commercial papers (CP) on private placement basis. The CP, which matures on January 23, was issued on Thursday but the company did not disclose the coupon rate. The issuance of CP is aimed at reducing high interest bearing cash credit limits and, in turn, reducing the cost of borrowings.
Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.