Mohit Ind raises loan for Rs ₹18.42 cr

Mohit Industries has informed the BSE that it has availed from The Shamrao Vithal Co-operative Bank, sanction for a term loan of ₹18.42 crore and cash credit facility of ₹3 crore, along with bill discounting facility under LC of ₹1 crore for expansion of its textile division. The company has already acquired land for the said expansion. This term loan will be utilised to put up eight texturising machines in a new building at its existing unit located at Kim, near Surat in Gujarat.