SAL Steel Secures ₹124 Crore Loan Facility from Kotak Mahindra Bank
S.A.L. Steel Limited has secured additional term loan facilities of ₹75 Crore and renewed working capital facilities of ₹49 Crore, totaling ₹124 Crore from Kotak Mahindra Bank. The loan, sanctioned on 29.09.2026, has a 10% interest rate and a 60-month repayment term. Funds will be used for part repayment of ICDs.
The increase in debt facility by ₹124 Crore is a material financial event that could impact the company's financial structure and operational capacity. The repayment of ICDs also suggests a restructuring of liabilities.
The company has successfully secured significant additional term loan and working capital facilities, which is a positive development for its financial operations and debt management.
S.A.L. Steel Limited has announced the availing of additional term loan facilities amounting to ₹75,00,00,000 (Rupees Seventy-Five Crore only). This is in conjunction with the renewal of existing working capital facilities of ₹49,00,00,000 (Rupees Forty-Nine Crore only), bringing the total aggregate facilities to ₹124,00,00,000 (Rupees One Hundred and Twenty-Four Crore only).
The sanction letter from Kotak Mahindra Bank Limited is dated 29.09.2026. The said borrowing is secured by a hypothecation of the company's entire current assets, including all movable fixed assets located at Survey No. 245, Village Bharapar, Tal. Gandhidham, Kutch Dist., Gujarat-382721. Additionally, unconditional and irrevocable personal guarantees from Mahesh Kumar Agarwal and Kaustubh Agarwal, along with a corporate guarantee from Sree Metaliks Limited, will remain valid during the tenor of the facility.
The interest rate for the loan facility is 10%, with a repayment period of 60 months. A significant term of the agreement is that the purpose of this borrowing is for the part repayment of ICD (Inter-Corporate Deposit) of AIA Engineering Limited. The company has confirmed that Kotak Mahindra Bank Limited is not a related party.
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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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