Federal Bank enhances credit facilities to Rs 165 Crore for CMR Green Technologies
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CMR Green Technologies received sanction for enhanced credit facilities from Federal Bank. Total limits rise from Rs 148 Cr to Rs 165 Cr, plus additional factoring limits of Rs 25 Cr. WCDL increases to Rs 110 Cr from Rs 98 Cr; SID doubles to Rs 50 Cr from Rs 20 Cr. Hedging limit is cut to Rs 5 Cr from Rs 30 Cr. Fund based proposed limit is capped at Rs 190 Cr. Management says this will strengthen liquidity and support smooth business operations.
Higher borrowing capacity supports working capital and growth; indicates lender confidence in the company.