S.A.L. Steel Ltd. Secures Working Capital Loan of Rs. 150 Crore from Yes Bank Limited
S.A.L. Steel Ltd. announced that it has entered into a Deed of Hypothecation with Yes Bank Limited on March 28, 2026, to secure a Working Capital Demand Loan (Sublimit of Cash Credit Limit) of Rs. 150,00,00,000 (Rupees One Hundred Fifty Crores Only). The loan is based on a sanction letter dated March 25, 2026.The funds will be utilized for working capital requirements. The borrowing is secured by way of hypothecation of the company’s current assets and movable fixed assets located at Survey No. 245, Village Bharapar, Tal. Gandhidham, Kutch Dist., Gujarat.
The agreement also includes an unconditional and irrevocable personal guarantee from Mahesh Kumar Agarwal and Kaustubh Agarwal, and an unconditional and irrevocable corporate guarantee from Sree Metaliks Limited, both of which will remain valid during the facility's tenure.
Here's a summary of key details regarding the loan agreement:
| Particulars | Description |
|---|---|
| Purpose of Agreement | To avail Working Capital Demand Loan (Sublimit of Cash Credit Limit) from Yes Bank limited |
| Size Of Agreement | Deed of Hypothecation for Rs.150,00,00,000 ( Rupees One Hundred Fifty Crores Only) |
| Interest Rate | To be decided at the time of disbursement |
| Repayment | Subject to annual renewal |
| Related Party Transaction | Not a Related Party Transaction |
| Details of Lender | Yes Bank Limited |
| Total amount of Loan taken | Rs.150,00,00,000 ( Rupees One Hundred Fifty Crores Only) |
| Date of Execution of Loan Agreement/Sanction Letter | Deed of Hypothecation Dated 28.03.2026 and Sanction Letter Dated 25.03.2026 |
| Security provided | Current Assets, Movable Fixed Assets, Personal Guarantee from Mahesh Kumar Agarwal and Kaustubh Agarwal, and Corporate Guarantee from Sree Metaliks Limited |
Devilal J. Shah, Company Secretary and Compliance Officer, confirmed the details.
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