Date: May 29, 2026
Fundraising / Financing
SAL Steel Limited has availed a Term Loan facility from Axis Finance Limited pursuant to the bank's sanction letter no. AFL/WB/NZ/UP/2026-27/16332 dated May 26, 2026.
Loan Details:
- Lender: Axis Finance Limited
- Loan Type: Term Loan
- Loan Amount: ₹50,00,00,000 (Rupees Fifty Crores Only)
- Purpose: Re-payment of Inter-Corporate Deposit (ICD) of AIA Engineering Limited
- Repayment Terms: 5 years to be repaid in 20 equal quarterly instalments
- Date of Sanction Letter: May 26, 2026
- Total Loan Outstanding: NIL (as of disclosure date)
Security Arrangements:
- Mortgage of entire Immovable Fixed Assets of the borrower
- Mortgage of current assets of the borrower
- Hypothecation of all Movable Fixed Assets (both present and future) of the borrower situated at Survey No. 245, Village Bharapar, Tal. Gandhidham, Kutch Dist., Gujarat-382721
- Unconditional and Irrevocable Personal Guarantee of Mahesh Kumar Agarwal and Kaustubh Agarwal, valid during the tenor of the facility
- Unconditional and Irrevocable Corporate Guarantee of Sree Metaliks Limited, valid during the tenor of the facility
Relationship Disclosure:
- No shareholding in Axis Finance Limited
- The parties are not related to promoters/promoter group/group companies
- The transaction does not qualify as a Related Party Transaction
- No shares were issued as part of this agreement
Additional Disclosures:
- No details of nominee on the board of directors
- No potential conflict of interest arising out of the agreement