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Awaiting price reaction for this filing.
Prospect Consumer Products Ltd has informed BSE that Standard Chartered Bank has sanctioned overall credit limits aggregating to ₹1,294.79 lakhs (approximately ₹12.95 crores) in favour of the company. Of this, ₹294.79 lakhs is a takeover of the company's existing credit exposure from ICICI Bank, meaning the net new funding from Standard Chartered is around ₹1,000 lakhs (₹10 crores). The company is making this disclosure under Regulation 30 of SEBI's LODR Regulations. The sanction is subject to execution of documentation and compliance with the bank's terms and conditions.
The sanction gives the company additional working capital flexibility, with net fresh credit lines of about ₹10 crores from a new banking partner, which is mildly positive for liquidity and operational expansion, though it remains subject to documentation.