Grasim gets Rs 5000 crore loan from Axis Bank

5 Apr 2023 , 09:06 AM

Grasim has got Rs 5000 crore loan from Axis Bank for the purpose of capital expenditure and repayment of some of its existing loans.

Grasim Industries said in an exchange filing that it has executed agreements for a secured loan of Rs 4,850 crore and two unsecured loans of Rs 70 crore and Rs 80 crore.

‘The company has entered into three Term Loan Agreements on April 3, 2023, to avail the Rupee Term Loan facility aggregating to Rs 5,000 crore from Axis Bank Limited in terms of the approval by the Finance Committee of the Company,’ it said.

The rupee term loans ‘are of 10 years tenor’, it added.

The other 2 term loans of Rs 150 crore will be unsecured and designated for specific projects, as per the exchange filing. 

Grasim is also the country’s largest cement producer and diversified financial services (NBFC, asset management and life insurance) firm in India through its subsidiaries UltraTech Cement and Aditya Birla Capital.