Sanmit Infra Secures ₹2 Cr Working Capital Loan from ICICI Bank

Sanmit Infra Ltd announced that its Board of Directors has approved a Guaranteed Emergency Credit Line (GECL) facility of ₹2 crore from ICICI Bank. This working capital term loan, under the Emergency Credit Line Guarantee Scheme 5.0, will be utilized for meeting the company's working capital requirements and for the creation of current assets. The loan has a tenure of 5 years, including a 1-year moratorium period, with principal repayment spread over 48 months post-moratorium. The interest rate will be determined at the time of disbursement, based on I-EBLR plus a spread, with an overall cap of 9.00% as per the ECLGS 5.0 scheme.