Sical Logistics share price dips 5% after company delays interest payment on debenture
The company has taken necessary steps to address the situation and confident of correcting the same shortly.
December 27, 2019 / 11:37 AM IST
Sical Logistics share price fell 5 percent intraday on December 27 after the company said there will be a delay in payment of the semi-annual interest due to a debenture holder.
In a release to the exchange the company said, the semi-annual interest of Rs 5.50 crore payable on the listed 11 percent secured redeemable non-convertible debentures issued on a private placement basis to the sole debenture holder falling due on December 27, 2019, will be delayed due to cash flows mismatch.
The company said it has taken the necessary steps to address the situation and is confident the interest payment will be made shortly.
At 11:19 hrs Sical Logistics was quoting at Rs 16.95, down Rs 0.30, or 1.74 percent on the BSE.