Sutlej Textiles and Industries (STIL), a manufacturer of value added dyed yarns and home textiles, today announced that the company has issued additional commercial paper (CP) of Rs 350 million. Post this offering, the company has issued CP aggregating to Rs 600 million.

The CP issue has been rated CARE A1+ by Credit Analysis & Research (CARE). Instruments with the aforesaid rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

The rating devices strength from the experience of the promoters in the textile industry and business profile being India's leading player in the dyed spun yarn and value added/speciality yarn.

Shares of the company gained Rs 10.4, or 2.88%, to settle at Rs 371.20. The total volume of shares traded was 1,860 at the BSE (Monday).