The Company has repaid the entire borrowings i.e outstanding lons/ facilities of Kotak Mahindra Bank Limited
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India Steel Works Ltd (Scrip Code: 513361) has fully repaid all outstanding loans and facilities owed to Kotak Mahindra Bank Limited. The bank has confirmed receipt of the full and final settlement amount. As a result, there are no amounts due or payable by the company or its guarantors to the bank. The disclosure was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.
This is a positive development for shareholders as it eliminates bank-level debt entirely from the balance sheet, reducing interest costs and financial risk. It signals balance sheet strengthening, though clarity on the source of repayment funds (internal accruals, new debt, or promoter infusion) would be important for investors.