Morepen Labs Secures ₹30 Crore Term Loan from Shinhan Bank
Morepen Laboratories Limited secured a ₹30 Crore unsecured term loan from Shinhan Bank. The loan has a 36-month tenure with a 7.60% interest rate and is guaranteed by the promoter. This adds to the company's existing outstanding loans of ₹182.62 Crore.
The amount of ₹30 Crore is significant for the company's operations and could impact its financial leverage and profitability, though it is not a transformative amount in the context of its existing debt.
The company has secured a new debt facility which can be used for general business purposes, indicating potential for growth or operational stability.
Morepen Laboratories Limited has announced that its Finance Committee of the Board of Directors, in a meeting held on April 23, 2026, approved availing an unsecured term loan facility from Shinhan Bank.
The company has entered into various agreements with Shinhan Bank for a credit facility amounting to an aggregate of ₹30,00,00,000 (Rupees Thirty Crore Only).
The loan facility has a tenure of 36 months with repayment in 10 equal quarterly installments after a moratorium period of 6 months. The interest rate is set at 7.60% per annum (Repo rate of 5.25% plus a spread of 2.35% as of the date of the agreement). The loan is supported by a personal guarantee from Mr. Sushil Suri, Promoter, Chairman & Managing Director.
As of the reporting date, Morepen Laboratories' total outstanding loan exposure, excluding vehicle loans, stands at ₹182.62 Crore. An amount of ₹20.45 Crore is currently outstanding with Shinhan Bank prior to this new facility.
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Morepen Laboratories Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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