Sanction of credit facilities by Axis Bank
ALGOQUANT · price
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Algoquant Fintech Ltd has received a sanction of Rs. 280 crore in credit facilities from Axis Bank, including bank guarantees and other facilities. This follows the company's recent milestone of obtaining SEBI registration as a Stock Broker in April 2025, along with memberships from NSE, BSE, and MCX. The company approached Axis Bank to support the expansion of its business operations, particularly in its newly entered stock broking segment. Management expects this credit line to have a significant positive impact on revenue operations going forward.
This is a positive development for shareholders as it provides the company with substantial working capital and bank guarantee support to scale its broking business. The facility signals bank confidence in the company's business model and should support growth in transaction volumes and revenue.