Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Unisem Agritech Limited (Scrip Code: 544648) has disclosed the shifting and takeover of its entire banking facilities from Federal Bank Limited to Karnataka Bank Limited. This disclosure is made pursuant to Regulation 30 and the company's materiality policy.
Nature of the Event
The event is the shifting/takeover of all banking facilities from one banker to another.
Key Dates and Approvals
- The Board of Directors approved the proposal for shifting banking facilities at its meeting held on May 25, 2026.
- The company executed the requisite loan and security documents with Karnataka Bank Limited on June 30, 2026.
Facilities and Financial Details
The new banking facilities sanctioned by Karnataka Bank Limited aggregate to ₹21.69 Crores. The breakdown is as follows:
- Term Loan: ₹1.80 Crores
- Term Loan: ₹2.37 Crores
- DPN Loan: ₹3.92 Crores
- Overdraft Facility: ₹13.60 Crores
Security
The facilities are secured by the creation of a charge over the company's movable assets, current assets, and collateral security as per the sanction terms and loan documentation.
Purpose and Rationale
The stated purpose for the shift is the takeover of existing banking facilities and the strengthening of the company's banking arrangements.
The primary reasons for the change are better banking services, enhanced operational efficiency, improved banking support, and other commercial considerations.
Expected Impact
As per the disclosure, no adverse impact on business operations is expected. The new arrangement is expected to strengthen the company's banking relationship and facilitate more efficient management of its financing and working capital requirements.