Anupam Rasayan India Ltd. executed a USD 30,000,000 External Commercial Borrowing (ECB) Facility with Axis Bank Limited IBU GIFT City and other lenders, effective February 19, 2026. The funds are earmarked for partially financing the acquisition of Monitchem Kansas S.à r.l. The security package includes a pari passu charge over the Company’s movable and immovable assets.
Finalizing External Commercial Borrowing
Anupam Rasayan India Ltd. has formally disclosed the execution of the facility agreement for an External Commercial Borrowing (ECB) Facility totaling USD 30,000,000 (Thirty Million United States Dollars). The agreement was executed on February 14, 2026, but the amendments considering the new RBI regulations were finalized, making the facility effective from February 19, 2026.
Key Counterparties and Purpose
The principal parties to the Facility Agreement include Axis Bank Limited IBU Gift City, Axis Trustee Services Limited Gift City, and Axis Trustee Services Limited, alongside the Company. The proceeds from this ECB Facility will be strategically utilized for the partial funding of the Proposed Acquisition: acquiring the entire shareholding of Monitchem Kansas S.à r.l. and settling an intragroup loan receivable owed by Kansas HoldCo 1, Inc. to CABB GmbH.
Security Provisions for the Loan
To secure the ECB Facility, the Company has provided substantial security across its assets, all secured via a pari passu charge:
- Movable Assets: A charge by way of hypothecation over the movable fixed assets of the Company.
- Fixed Deposit: An exclusive charge/lien over the interest service reserve account maintained as a fixed deposit with Axis Bank.
- Immovable Assets: A charge by way of mortgage over identified immovable properties of the Company.
The security documentation, including Deeds of Hypothecation and Mortgage Documents, will be executed with the ECB Security Agent, Axis Trustee Services Limited.
Governance and Covenants
The agreement places constraints on the borrower’s corporate governance and capital structure through various covenants. These include restrictions on change of control, share issuance, rights amendments, and distributions. The agreement specifically does not grant the lender or the Security Agent any right to appoint directors or observers to the Company’s board.
Clarification on Prior Disclosure
The Company also clarified a detail from a previous intimation regarding the Share Subscription Agreement between Doriath S.à r.l. and Batam S.à r.l., stating that the execution date mentioned as February 12, 2026, should have correctly read as February 14, 2026.
Source: BSE
