Gala Global Products informs BSE on debt reduction

Gala Global Products has informed the exchange about infusion of funds from promoters of the company. The company shared this information via a regulatory filing with BSE. 

The company says it has made repayment towards existing financing or cash credit facilities availed from HDFC Bank and reduced its facilities from Rs 17 crore to Rs 7.25  crore, Gala Global Products told the exchange.

Consequent to this, there is reduction in cash credit limit and outstanding amount as on date to Rs 6.50  crore, the company's filing further added. The Company is also planning to reduce its debt in near future by making further payment or prepayment towards various cash credits or financial facilities availed from Banks.

Gala Global Products engaged in educational stationery and allied products  with its range of multipurpose stationeries and education toys makes learning fun.