Loan & Debt1 Jun 2026, 06:12 pm
Sanmit Infra Receives ₹2 Cr GECL Loan from ICICI Bank
AI Summary
Sanmit Infra Ltd. has received a sanction letter from ICICI Bank for a Guaranteed Emergency Credit Line (GECL) of ₹2.00 Cr under the Emergency Credit Line Guaranteed Scheme 5.0 (ECLGS). The facility is granted for meeting working capital requirements and creation of current assets. The tenure of the facility is 5 years, including a 1-year moratorium, with interest to be serviced monthly. The principal amount will be repaid in 48 equal monthly installments after the moratorium period.
Key Highlights
- Sanmit Infra secures ₹2.00 Cr GECL loan from ICICI Bank under ECLGS 5.0.
- Loan tenure is 5 years with a 1-year moratorium on principal repayment.
- Interest rate is I-EBLR plus spread (max 0.75%), capped at 9.00% as per ECLGS 5.0.
- The facility is for meeting working capital needs and creating current assets.
- Repayment starts after the 12-month moratorium in 48 monthly installments.
Price Impact
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