Please be informed that State Bank of India has sanctioned a fund based term loan of Rs. 40 crores to Trio Infrastructures Pvt Ltd, wholly owned subsidiary of the Company.
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State Bank of India, Borivli Branch, has sanctioned a fund-based term loan of Rs. 40 crores to Trio Infrastructure Private Limited, a wholly owned subsidiary of Ironwood Education Ltd. The loan is secured through a Mortgage Deed and other documents, which are yet to be executed. The subsidiary will act as the borrower while the Company remains the parent entity. Further details of the loan agreement will be submitted to the exchange as required under SEBI regulations.
This new debt facility strengthens the subsidiary's financial position and provides fresh capital of Rs. 40 crores for business operations, though it also adds leverage to the consolidated balance sheet.