Ircon International has furnished a Corporate Guarantee to Bank of Baroda for providing the term loan of Rs. 724.12 crore to Ircon Vadodara Kim Expressway (IrconVKEL), a Special Purpose Vehicle (SPV) (a wholly
owned-subsidiary) of IRCON.
Post disbursal of loan by Bank of Baroda to IrconVKEL, IrconVKEL will repay the existing loan of IRCON of Rs.589.50 crore, thereby reducing the Financial Investments of IRCON.
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