SAL Steel avails Rs 124 crore facility from Kotak Mahindra Bank

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SALSTEEL · price

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Price reactionminutes from the announcement price · days from the prior close

+1.8%Reaction day

₹98.10

prior close

₹97.06

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.3%+3.1% vs market

On the reaction day the stock moved 3.1 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.1

10m

+0.3

15m

+1.5

30m

+2.5

Sessions after the filingfrom the prior close

StockMarketvs market

Reaction day

+1.8-1.3+3.1

Next day

-4.2-1.3-2.9

-8.1+0.0-8.1

-12.3-0.2-12.0

-12.7-3.0-9.8

-12.6-2.7-9.9

-13.5-1.7-11.7

15d

-21.5-8.9-12.7

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AI summary

SAL Steel has availed an additional term loan of Rs 75 crore from Kotak Mahindra Bank along with renewal of Rs 49 crore working capital facility, aggregating to Rs 124 crore. Interest rate is 10 percent, repayable over 60 months. Purpose is part repayment of ICD of AIA Engineering Limited. Secured by current assets, movable fixed assets, and personal and corporate guarantees from promoters and Sree Metaliks Limited.

Likely market impact

New Rs 124 crore debt at 10 percent for 60 months, used to repay AIA Engineering ICD. Personal guarantees signal leveraged promoter position.