Gravita India announced today morning that its step-down subsidiary, Gravita Netherlands BV, has received 34 million Euros ESG loan from European Developmental Financial Institutions.
The company said that this money has come in after rigorous due diligence on various environmental, social and governance aspects at Gravita's manufacturing subsidiaries.
This grant enables Gravita’s offshore businesses to gain financial independence for their capex and working capital needs . The facility is guaranteed by the parent Gravita India.
Following this news, the stock is currently among the top five gainers on the BSE; opening over 1% higher at Rs.517.10, it rose to Rs.552.75, hitting a new 52-week high and continues to trade around the same levels.