Fiberweb (India) Limited — Board Meeting, 03-12-2024: Outcome of Board Meeting

The Board of Directors has confirmed key decisions in its recent meeting. The company received a long-term rating of BBB- (stable) and a short-term rating of A3 from Infomerics, facilitating loan applications at favorable interest rates. The board approved applications for a ₹115 crore term loan and a ₹15 crore working capital facility for a new Spunlace fabric project using biodegradable materials. Plans to raise up to ₹50 crore through various financing modes were also authorized. The project is progressing well, with commercial production expected by January 2026.