Sanmit Infra Ltd Secures Rs 2 Crore Working Capital Facility from ICICI Bank
Sanmit Infra Limited has successfully secured a Guaranteed Emergency Credit Line (GECL) facility worth Rs 2,00,00,000 from ICICI Bank Limited. The credit line is part of the Emergency Credit Line Guaranteed Scheme 5.0 (ECLGS) and is intended to meet the working capital requirements of Sanmit Infra Ltd and facilitate the creation of current assets.The agreement, which was finalized after the Board meeting held on June 4, 2026, establishes specific terms regarding tenure, interest rates, and security for the facility granted by ICICI Bank Limited. No conflict of interest was noted in relation to this transaction.
Key details of the agreement between Sanmit Infra Ltd (Borrower) and ICICI Bank Limited (Lender) are summarized below:
| Parameter | Detail |
|---|---|
| Lender Name | ICICI Bank Limited |
| Borrower Name | Sanmit Infra Limited |
| Facility Size | Rs 2,00,00,000/- |
| Date of Sanction Letter | 30/05/2026 |
| Date of Signing Sanction Letter | 01/06/2026 |
| Purpose of Facility | Meeting working capital requirements and creation of current assets. |
| Tenure of Facility | Five years from the date of disbursement, including a one year Moratorium Period. |
Operational Terms and Security
The facility is designed to support the company's operational needs, with key stipulations covering the interest rate structure, repayment schedule, and security provisions.According to the terms outlined in the sanction letter, the applicable interest rate for each drawal will be determined by the Bank at the time of disbursement. This rate is stipulated as the sum of I-EBLR plus a 'Spread' per annum, capped at an overall maximum of 9.00%.
As reported, the prevailing rates at the time of the agreement included an I-EBLR of 8.40% and a Spread of 0.60%.
The facility includes a one year Moratorium Period on the principal amount. After the expiry of this Moratorium Period, the entire outstanding principal amount must be repaid through forty eight equal monthly installments starting from the day following the end of the Moratorium Period.
Security for the facility has been established, which involves both existing and new charges. The facility shall rank as a second charge over all existing securities (including mortgage) created in favor of ICICI Bank for the Existing Facility. Furthermore, a new charge is being created on the assets that are generated from this specific Facility.
Stock Price Movement
Sanmit Infra Ltd shares settled at ₹52.80 on Thursday, posting a decline of 4.98% in market value. The stock remained completely locked at this level throughout the trading session, having traded entirely flat with an identical high and low.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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