DCM Shriram Secures ₹200 Cr Sustainability Linked Loan From HSBC India

DCM Shriram Ltd, a leading conglomerate with diverse business presence in Agri-Rural, Chlor-Vinyl, and Value-added business, has successfully raised a Sustainability Linked Loan (SLL) of Rs 200 Crore from HSBC India, the company on Thursday announced through an exchange filing.

This strategic financial move is aimed at supporting the company's ongoing Capital expenditure program in Bharuch, Gujarat.

Amit Agarwal, Executive Director & Group CFO of DCM Shriram Ltd said, "This is our first Sustainability Linked Loan obtained from HSBC India, marking our unwavering dedication to our Environmental, Social, and Governance (ESG) objectives. We have embarked on projects worth approximately Rs 3500 crore, predominantly within our Sugar & Chemical divisions. Notably, projects in our Sugar business have already been commissioned, while those in the Chemicals business are nearing completion."

“We’re committed to provide financing to support and incentivize the transition to a more sustainable economy. We’re pleased to support DCM Shriram Ltd in more closely linking their financing with their sustainability strategy, and look forward to working with clients across sectors, to further embed ESG considerations into the financing ecosystem,” said Ajay Sharma, Head-Commercial Banking, HSBC India.

DCM Shriram Ltd shares

The shares of DCM Shriram Ltd on Thursday at  11:13 am IST were at Rs 1,063.05, up by 0.29 percent.

Published on: Thursday, September 28, 2023, 11:19 AM IST