Loan & Debt4 Jun 2026, 06:21 pm
Sanmit Infra Secures ₹2 Cr Working Capital Loan Facility
AI Summary
Sanmit Infra Ltd announced that its Board of Directors has approved the terms and conditions for a Guaranteed Emergency Credit Line (GECL) facility of ₹2 crore from ICICI Bank. This working capital term loan will be utilized for meeting the company's working capital requirements and for the creation of current assets. The facility has a tenure of 5 years, including a 1-year moratorium period on principal repayment. Interest will be serviced monthly, with principal repayment commencing after the moratorium in 48 equal monthly installments. The interest rate is based on I-EBLR plus a spread, capped at 9.00% as per the ECLGS 5.0 scheme.
Key Highlights
- Board approved ₹2 crore working capital term loan facility.
- Loan secured from ICICI Bank under ECLGS 5.0 scheme.
- Facility has a 5-year tenure with a 1-year principal moratorium.
- Proceeds to be used for working capital and current asset creation.
- Interest rate capped at 9.00% per annum.
Price Impact
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