SMFCL Begins Maritime Lending With Rs 4,300 Crore Sanctioned

Overview

• The board cleared approvals on 30 December, allocating about Rs 4,000 crore to a greenfield port, Rs 150 crore to Dredging Corporation of India, and Rs 110 crore to Goa Shipyard, with disbursements planned within the current fiscal.
• An overall borrowing limit of Rs 25,000 crore is in place as the company targets an Rs 8,000 crore loan book for FY 2025–26.
• The corporation has been named the nodal and fiduciary agency for the Maritime Development Fund, comprising a Rs 20,000 crore Maritime Investment Fund and a Rs 5,000 crore Interest Incentivisation Fund.
• SMFCL says credit ratings from major agencies are expected shortly, which could lower borrowing costs and support a scale-up in lending.
• Planned offerings span short-, medium- and long-term loans plus non-fund products, and the firm points to forthcoming shipbuilding assistance scheme guidelines as a potential boost for domestic manufacturing.