Enclosed herewith Disclosure under Reg 30 of SEBI (LODR) Reg, 2015 for Company has received Letter of Intent from SIDBI
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Sanmit Infra Ltd has received a Letter of Intent from SIDBI (Small Industries Development Bank of India) for a term loan of Rs. 200 Lakhs under the STEP scheme, dated 27 January 2026. The loan will fund working capital needs at the company's manufacturing unit in Maniknagar, Khalapur, Raigad, Maharashtra. Interest is set at 8.85% per annum with monthly rests, and the loan is repayable in 54 installments after a 6-month moratorium. The facility is secured by hypothecation of current assets, CGTMSE coverage of Rs. 170 Lakhs, an FDR of Rs. 30 Lakhs, and extension of existing charges on the earlier SPEED scheme loan of Rs. 116 Lakhs. Four promoter directors have given personal guarantees.
The fresh credit facility strengthens working capital support for the company's manufacturing operations at a reasonable interest rate, though it adds to existing debt and carries personal guarantees from promoters, which is a credit-negative signal for existing lenders.