Great Eastern Shipping has announced that its wholly-owned subsidiary, Greatship (India) Limited (GIL), has secured a loan of ₹425 crore. This loan will be used by GIL to prepay its existing External Commercial Borrowing facility, which currently stands at USD 70.9 million. The inter-corporate loan carries an interest rate of 7.50% per annum and has a term of 2.5 years.
Loan Agreement Details
Great Eastern Shipping has entered into a loan agreement with its subsidiary, Greatship (India) Limited (GIL). This agreement, finalized on September 18, 2025, involves Great Eastern Shipping providing a loan of ₹425 crore to GIL. As a wholly-owned subsidiary, Great Eastern Shipping holds 100% of the shares in GIL.
Purpose of the Loan
The primary purpose of this inter-corporate loan is to enable Greatship (India) Limited to prepay its existing External Commercial Borrowing facility. The current outstanding amount for this facility is USD 70.9 million.
Key Terms of the Loan
The loan carries an interest rate of 7.50% per annum, payable quarterly. The term of the loan is set for 2.5 years, with a prepayment option available to GIL. The announcement confirms that the loan transaction is conducted on an arm’s length basis, ensuring fair terms for both parties.
Source: BSE
