IOL Chemicals & Pharma makes ₹22.11-cr loan prepayment

IOL Chemicals & Pharmaceuticals has made a ₹22.11-crore prepayment of a term loan to a bank in addition to its scheduled repayments. In a notice to the stock exchanges, the company said, with this, it has prepaid the term loan worth ₹161.44 crore till date (i.e. ₹141.39 crore during the current FY and ₹20.05 crore in the previous FY). Accordingly, the principal amount of the term loan stands reduced to ₹66.02 crore, the company said. Shares of IOL Chemicals surged 3.6 per cent at ₹174.15 on the BSE.