ENCLOSED HEREWITH DISCLOSURE UNDER REG 30 OF SEBI (LODR) REGULATIONS, 2015 RELATING TO LETTER OF INTENT RECEIVED FROM SIDBI
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Sanmit Infra Ltd's board, at its meeting on 4 February 2026, approved a Letter of Intent for a Rs. 200 lakh term loan from SIDBI under the STEP Scheme at 8.85% per annum interest, intended for working capital needs at its manufacturing unit in Raigad, Maharashtra. The loan is repayable in 54 monthly installments after a 6-month moratorium, and is secured by CGTMSE coverage (up to Rs. 170 lakh), FDRs of Rs. 30 lakh, existing collateral, and personal guarantees from four promoter-group members. Separately, CEO Shlok Sanjay Makhija resigned effective 31 December 2025 citing other professional commitments, and Independent Director Mohan Mallu Rathod's tenure ended on 5 January 2026. The board also recommended a 10:1 share consolidation (Rs. 1 face value to Rs. 10 face value), subject to shareholder approval at the EGM scheduled for 18 March 2026, and appointed Nandkumar Gorkhnath Patil as an additional Independent Director for 5 years.
The SIDBI loan provides fresh working capital support but adds to the company's debt obligations; share consolidation reduces the number of outstanding shares by 90% (without changing total capital), which may improve per-share metrics and price appeal. The CEO exit and board reshuffle are governance changes that investors should monitor for continuity of management.