Loan & Debt30 Jul 2026, 06:31 pm
Shalby secures ₹129.70 Cr working capital from Kotak Mahindra Bank
AI Summary
Shalby Ltd's Management Committee has approved availing working capital facilities totaling ₹129.70 crore from Kotak Mahindra Bank Limited. This includes ₹119.70 crore for its overseas step-down subsidiary, Shalby Advanced Technologies, Inc., USA, to meet its working capital requirements. The remaining ₹10 crore will be availed by Shalby Ltd itself, through Working Capital Demand Loan (WCDL) or Cash Credit facilities. The company states that providing the necessary support for the subsidiary's credit facilities is in its overall interest, and no significant financial or operational impact is foreseen from this transaction.
Key Highlights
- Shalby secured ₹129.70 crore working capital from Kotak Mahindra Bank.
- ₹119.70 crore is for its US step-down subsidiary's working capital.
- ₹10 crore is for the parent company via WCDL/Cash Credit facilities.
- The facility supports the subsidiary's credit needs.
- No significant financial or operational impact is expected.
Price Impact
More from SHALBY