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HUDCO clarifies news of INR 11,000-crore Andhra Pradesh loan

March 17, 2025 at 07:03 PM UTCBy FilingReader AI

HUDCO (BSE: HUDCO) has issued a clarification regarding a recent news item that appeared on www.moneycontrol.com about its financial commitment to Andhra Pradesh. The news reported HUDCO shares rise 3.5% as firm extends Rs. 11,000-crore loan to build Andhra's Amaravati". In a statement released on March 17, 2025, HUDCO confirmed that, as part of its normal business operations, its Board of Directors approved a term loan of ₹11,000 crore to the Andhra Pradesh Capital Region Development Authority (APCRDA) on January 22, 2025. The funds are earmarked for the development of Amaravati, the new capital city of Andhra Pradesh. HUDCO clarified that the loan agreement was executed on March 16, 2025. The company added that such loan agreements are a routine part of its operations and did not warrant separate disclosure under SEBI regulations.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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