Jubilant Energy surges as Indian subsidiary secures financing

Shares in Jubilant Energy surged after the company said its Indian subsidiary has entered into funding arrangements for unsecured loan facilities of INR155m or around $2.3m.

The oil and gas company said the money will be used towards funding the capital and operating expenditure, debt servicing and for other corporate purposes.

The loans have a tenor of seven years and an interest rate of 14% per annum, Jubilant said.

At 0945 BST, shares in the company were up 20% at 0.45p.