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BRIEF-Sundaram Multi Pap says co cut up to 450 mln rupees debt by Dec 2016
January 4, 2017 / 6:40 AM / a year ago

BRIEF-Sundaram Multi Pap says co cut up to 450 mln rupees debt by Dec 2016

Jan 4 (Reuters) - Sundaram Multi Pap Ltd

* Says Sundaram Multi Pap Ltd reduces its financial obligations : debt repayment

* Says recognized its non-core assets, which will be liquidated I.E. Paper mill at nagpur and land parcel at palghar

* Says co reduced the debt to the extent of 450 million rupees by Dec 2016

* Says reduction of the debt has been done in a short span of time and due to which the company has reduced its financial obligations

* Says in the fiscal year 2017-18 the company plans to reduce the interest burden approximately by INR 50 million

* Says debt been reduced by recognizing, liquidating non-core assets at Palghar, Mumbai, raising funds from QIBs Source text: bit.ly/2hOABpV Further company coverage:

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