Announced Wed, 14 Oct, 2026 · 20:24 IST
NMSTEEL extends 25 Crore working capital loan to subsidiary Prime NMS
NMSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction
Awaiting price reaction for this filing.
AI summary
Newmalayalam Steel has signed a loan agreement on 14 October 2026 to extend a working capital loan of Rs 25 crore to its 91.76 percent subsidiary, Prime NMS Private Limited. The loan is to support the subsidiary's main business operations. The company states the transaction is a related party deal done at arms length, with no security pledged. Newmalayalam holds 91.76 percent in Prime NMS, making it a subsidiary.
Likely market impact
Lending 25 crore to a 91.76 percent owned subsidiary ties up cash for the parent. Watch for repayment capacity and use of funds at Prime NMS.