SAL Steel Secures ₹124 Crore Loan Facility from Kotak Mahindra Bank
S.A.L. Steel Limited has secured an additional term loan facility of ₹75 crore and renewed working capital facilities of ₹49 crore, totaling ₹124 crore from Kotak Mahindra Bank. The loan has a 10% interest rate and a 60-month repayment period, intended for repaying ICDs of AIA Engineering Limited.
The acquisition of significant debt financing indicates a need for capital, which could support operational expansion or debt restructuring. The amount is substantial relative to typical company financing activities.
The company has successfully secured additional funding and renewed existing facilities, which is generally positive for business operations and growth.
S.A.L. Steel Limited has announced the availment of additional term loan facilities amounting to ₹75 crore, along with the renewal of existing working capital facilities worth ₹49 crore, bringing the total aggregate facilities to ₹124 crore. This was facilitated by Kotak Mahindra Bank Limited, as per their Sanction Letter dated 29.09.2026.
The newly acquired term loan facility carries an interest rate of 10% and is to be repaid within 60 months. The purpose of this borrowing is for the part repayment of Inter-Corporate Deposits (ICDs) of AIA Engineering Limited. The entire borrowing is secured by a hypothecation of the company's current assets and movable fixed assets located at Survey No. 245, Village Bharapar, Gandhidham, Kutch, Gujarat.
Additionally, the facility is backed by an unconditional and irrevocable personal guarantee from Mahesh Kumar Agarwal and Kaustubh Agarwal, and a corporate guarantee from Sree Metaliks Limited, both valid for the tenor of the facility. The company has confirmed that Kotak Mahindra Bank is not a related party, and the transaction does not fall under related party transactions. The execution of the loan agreement and sanction letter occurred on 29.09.2026.
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S.A.L. Steel 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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