Sundaram Multi Pap raises Rs 7.93 crore through QIP

16 Oct 2017 Evaluate

Sundaram Multi Pap (SMPL) has raised funds of Rs 7.93 crore by way of qualified institutional placement (QIP). Earlier in September 2014, the company had opted for restructuring of Debt and had successfully achieved its objective by reducing the debts to the extent of Rs 45 crore by December 2016. Further, the company has also reduced secured Debt to the extent of Rs 4.80 crore by repaying the same in September 2017. The company had further reduced Secured Debt to the extent of Rs 1.31 crore and unsecured Debt to the extent to Rs 1.19 crore and balance fund will be used towards enhancing business operations.

The current debt position of the company from the Bankers to the extent of Long Term Secured Loan is Rs 17.44 crore and to the extent Rs 20.20 crore as working capital Loan. Hence total Secured Debt of the company is Rs. 37.64 crore. The implantation of GST also has the positive impact on the business operations of the company which will further improve the position of the company.

Sundaram Multi Pap (SMPL) is engaged in the manufacture of notebooks, account books, other paper stationery products, Kraft paper and trading of office paper stationery. Its operating facilities are located at Palghar, Nagpur and Kandla (SEZ facility). It sells its products in local as well as exports market.

Sundaram Multi Pap Share Price

2.80 -0.01 (-0.36%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
JK Paper 322.50
TN Newsprints 246.25
West Coast Paper 593.00
Emami Paper Mills 114.25
Andhra Paper 486.10
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