APL Apollo Tubes Limited has informed the Exchange regarding 'issuance of Commercial Paper'.
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APL Apollo Tubes Limited has issued Commercial Papers (CPs) amounting to Rs 200 Crore on April 9, 2025. The CPs carry a rate of 6.90% per annum and have a short tenure of 79 days, maturing on June 27, 2025. The instrument has been issued in favour of HSBC Liquid Fund and carries the highest short-term credit rating of [ICRA] A1+. The CPs will be listed on BSE Limited.
This is a routine short-term debt raise at competitive rates from a top-rated mutual fund. No equity dilution; minimal impact on shareholders as this is short-tenure working capital-style funding rather than long-term capital.