This is to inform you that the Company has entered into Loan Agreement with M/s Essenn Investments Private Limited dated 19/07/2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nova Iron & Steel Ltd has entered into a loan agreement with M/s Essenn Investments Private Limited, an NBFC, on 19 July 2025. The loan amount is Rs. 10 Crores, unsecured, with no security provided. The funds will be used for maintenance and operations of the plant, working capital, capital expenditure, and other general purposes. The lender has no shareholding in the company, no special rights like board appointment or share subscription rights, and the transaction is not a related party transaction. The borrowing was approved by the company's Borrowing Committee.
The Rs. 10 Crore unsecured loan provides additional working capital and operational funding for Nova Iron & Steel, but adds to the company's debt burden. The lack of security means the lender has no collateral backing, which may be a point of concern or reflect the company's existing leverage position.