Enclosed herewith Board Meeting Outcome Dated 04/06/2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The board of Sanmit Infra Ltd, at its meeting on June 4, 2026, approved the terms of a Rs. 2 crore Guaranteed Emergency Credit Line (GECL) from ICICI Bank under the government's ECLGS 5.0 scheme. The facility is a 5-year working capital term loan with a 12-month moratorium on principal, followed by repayment in 48 equal monthly instalments. The interest rate is the bank's I-EBLR (currently 8.40%) plus a spread of 0.60%, capped at 9.00% per annum. The loan is secured by a second-ranking charge over existing assets held with ICICI Bank, and there is no related party involvement.
This new Rs. 2 crore credit line strengthens the company's short-term liquidity to fund working capital and current asset creation. For shareholders, it is a small but positive signal that the company continues to access bank funding under a government-backed guarantee scheme, though the facility is modest in size relative to typical corporate borrowing.