Joint Venture13 Mar 2026, 01:59 pm
Shree Digvijay Cement Company Executes Facility Agreement for INR 400 Crores Security Deposit with ICICI Bank and Axis Bank
AI Summary
Shree Digvijay Cement Company Ltd. has executed a Facility Agreement with ICICI Bank and Axis Bank for availing term loan facilities. The total term loan facilities amount to INR 488 crores, out of which INR 400 crores will be used for providing security deposit to Hi-Bond Cement (India) Private Limited as per the Brand Usage, Supply and Distributorship Agreement. The remaining INR 132 crores will be used for refinancing a new Cement Mill. This decision is in line with the company's previous letters regarding the proposal to enter into a BDA and increase in overall borrowing limits.
Key Highlights
- Shree Digvijay Cement Company Ltd. has executed a Facility Agreement with ICICI Bank and Axis Bank for INR 488 crores term loan facilities.
- INR 400 crores will be used for providing security deposit to Hi-Bond Cement (India) Private Limited as per the Brand Usage, Supply and Distributorship Agreement.
- INR 132 crores will be used for refinancing a new Cement Mill.
- This decision is in line with the company's previous letters regarding the proposal to enter into a BDA and increase in overall borrowing limits.
- The Facility Agreement includes security creation documents with ICICI Bank and Axis Bank.