Bharat Gears Approves Term Loan Of Rs 110 Crore From KKR India Financial Services

Bharat Gears Limited on Wednesday informed that the Finance Committee of the board of directors in its meeting held on May 31, 2017, has approved the proposal to avail the term loan of Rs 110 crore from KKR India Financial Services.

The said loan will be used for repaying some of the existing term debts, working capital requirements and capital expenditure, as per BSE filing.

Bharat Gears was up by 4.6% at Rs 137 per share at 09:18 hours IST on BSE. It touched a high of Rs 137 and a low of Rs 133.90 in the morning session on Thursday. The market capitalisation of the company is Rs 106.32 crore.

Bharat Gears Limited (BGL) is a gear manufacturing company. It is engaged in offering automotive gears and components.

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