Sical Logistics Limited has informed the exchange about the execution of rupe term loan facility agreement
SICALLOG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sical Logistics has signed a rupee term loan facility agreement with Aditya Birla Capital Limited for up to INR 250 crores on June 16, 2025. The loan will be used to refinance the company's existing loan obligations and cover related transaction expenses. The facility has a tenure of up to 3 years from first disbursement and is secured by first-ranking charges on the company's movable assets, receivables, current assets, cash flows, and insurance proceeds. As additional security, share pledges have been created on 46.40% of Sical Infra Assets Limited (SIAL), 100% of Sical Bangalore Logistics Park Limited (SBLPL), and 50.34% of the company's own shares held by its parent Pristine Malwa Logistics Park. The agreement includes a change of control clause requiring Pristine Malwa to hold at least 51% of the company, and the lender has the right to appoint a nominee director on the board upon an event of default.
The new facility provides Sical Logistics with refinancing flexibility to manage its existing debt, but the extensive security package, including pledges on subsidiary shares and the parent's majority holding, suggests the lender demanded significant collateral. Shareholders should note the restrictions on capital structure changes and the lender's enhanced governance rights in case of default, which could limit future strategic flexibility.