Laxmi Organic Industries Limited has informed the Exchange about General Updates, Pursuant to provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Company has issued Commercial Papers ( CPs ) of ₹ 100 crores on May 9, 2025. The details of the same are as enclosed.
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Laxmi Organic Industries has issued Commercial Papers (CPs) worth ₹100 crores on May 9, 2025. The CPs carry a discount rate of 6.80% per annum, have a short tenure maturing on August 7, 2025 (about 3 months), and are unsecured. Interest is paid upfront while the principal will be repaid on maturity. The CPs have been issued in favour of Kotak Mahindra Bank and carry the highest short-term credit ratings of IND A1+ and CRISIL A1+. Note: there is a minor discrepancy as the Board/Finance Committee had earlier approved issuance of up to ₹50 crore (Dec 2022), but ₹100 crores has now been issued.
The issuance of ₹100 crores in Commercial Papers at 6.80% is routine short-term funding, likely to meet working capital needs. With top-tier A1+ ratings and a marquee investor (Kotak Mahindra Bank), this signals strong creditworthiness. Marginal positive for liquidity; minimal impact on share price as it is standard treasury activity.