Loan & Debt1 Oct 2026, 02:57 pm
S.A.L. Steel Avails ₹75 Cr Term Loan Facility from Kotak Mahindra Bank
AI Summary
S.A.L. Steel Ltd has announced the availing of an additional Term Loan facility of ₹75,00,00,000 (₹75 Crore) from Kotak Mahindra Bank Limited. This is in conjunction with the renewal of existing working capital facilities amounting to ₹49,00,00,000 (₹49 Crore), bringing the total aggregate facilities to ₹124,00,00,000 (₹124 Crore). The loan is secured by hypothecation of current assets and includes personal guarantees from Mahesh Kumar Agarwal and Kaustubh Agarwal, as well as a corporate guarantee from Sree Metaliks Limited. The interest rate is 10%, and the repayment period is 60 months. A portion of the funds will be used for the part repayment of an ICD from AIA Engineering Limited.
Key Highlights
- S.A.L. Steel secures ₹75 Cr additional term loan facility.
- Total facilities aggregate to ₹124 Cr including working capital renewal.
- Loan secured by current assets and personal/corporate guarantees.
- Repayment term is 60 months with a 10% interest rate.
- Funds to be used partly for ICD repayment.
Price Impact
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