Trident on Friday announced that it has issued commercial paper of Rs 50 crore carved out of working capital limits.
The home textile manufacturer has fixed coupon rate of commercial paper at 4.15% per annum with a tenure of 62 days. The commercial paper is rated CRISIL A1+.The company also said that the commercial paper is being listed on BSE.
Trident is a vertically integrated textile (yarn, bath & bed linen) and paper (wheat straw-based) manufacturer and is one of the largest players in home textile space in India.
On a consolidated basis, net profit of Trident rose 122% to Rs 234.59 crore on 44.1% rise in net sales to Rs 1,691.59 crore in Q2 FY22 over Q2 FY21.
Shares of Trident were trading 1.24% higher at Rs 53.15 on BSE.
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