Reg 30 Disclosure of Material Event of Term Loan.
MCCHRLS-B · price
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The Board of Directors of Mac Charles (India) Ltd, at their meeting on 4th November 2025, approved availing a Term Loan Facility of Rs. 1,080 Crores from State Bank of India, pursuant to a sanction letter dated 14th October 2025. The loan is secured by an equitable mortgage on the Zenith land and building, hypothecation of Zenith rentals, and a Debt Service Reserve Account (DSRA) equivalent to one month's EMI. The transaction is not a related party transaction, and the lender does not hold any equity in the company. The disclosure is being made under SEBI LODR Regulation 30 read with Schedule III.
The company is taking on a significant new debt of Rs. 1,080 Crores, which is a material event for shareholders. The loan is backed by the company's Zenith property and its rental income, suggesting the funds are likely linked to the Zenith asset (Mac Charles operates the Leela Palace hotel in Bangalore). Investors should monitor the purpose of borrowing, interest cost impact on earnings, and debt servicing capacity given the large size of the facility.