Intimation regarding credit facility availed by the Company from the South Indian Bank.
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Starlineps Enterprises Ltd has availed an overdraft (OD) facility of Rs. 12 Crores from South Indian Bank, Vesu branch, Surat, for business purposes. The loan agreement was executed on 28th May, 2025, and the signed copy was received by the company on 2nd June, 2025. The facility is secured against 15 fixed deposits with a total present value of Rs. 12.93 Crores, meaning the security covers the loan amount with a comfortable margin. The disclosure was made under SEBI listing regulations, and the transaction is not a related-party deal.
This is a low-risk borrowing as the overdraft is fully backed by fixed deposits worth slightly more than the loan amount. For shareholders, this signals adequate liquidity access for business operations with minimal refinancing risk, though the use of OD-against-FD suggests the company is leveraging its own deposits rather than bringing in fresh capital.