Sutlej Textiles and Industries board has provided its approval for raising Rs 500 crore in debt for funding working capital requirements and growth plans.

The company has said in a filing that at a meeting, the company’s board approved raising of funds upto Rs 500 crore by way of borrowing for long term working capital requirements and growth plan.

As per the regulatory filing the board has also recommended a dividend of Rs 13 per share and sub division of shares in the 1:10 ratio.

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