Exicom Tele-Systems has entered into a Loan Agreement with Exicom Power Solutions B.V., Netherlands, a Wholly Owned Subsidiary of the Company, for granting an additional unsecured loan of Rs. 125 crore to Exicom Power Solutions B.V., Netherlands (Borrower).
The purpose of this loan is for the Borrower to infuse the funds in its wholly-owned subsidiaries in the USA and Australia respectively. These subsidiaries will use the funds to support their primary business activities and to facilitate business growth and expansion.