Shalby Ltd Approves Renewed Working Capital Facilities of ₹ 2199.88 Crore

Shalby Ltd, a healthcare company, has announced its approval to avail renewed and enhanced banking facilities of up to ₹ 2199.88 crore from IndusInd Bank Limited. These facilities will be utilized for working capital facilities, foreign currency term loan for its USA-based step-down subsidiary, Shalby Advanced Technologies, Inc., and overdraft facility for the company. The company's management committee approved this at a meeting held on July 13, 2023. The step-down subsidiary, Shalby Advanced Technologies, Inc., is the beneficiary of this transaction. The company assures that this move will not have any significant financial or operational impact.