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India's Maritime Finance Arm Eyes Rs 25,000 Cr Boost
22 Nov
Summary
- Maritime NBFC approved Rs 25,000 crore borrowing limit.
- Rs 8,000 crore to be raised in FY25 for immediate operations.
- Funding to support entire maritime value chain, including ports and vessels.
Sagarmala Finance Corporation Limited (SMFCL), India's inaugural maritime non-banking finance corporation, has announced an ambitious Rs 25,000 crore borrowing limit. Of this substantial sum, Rs 8,000 crore is slated for mobilization within the current fiscal year (FY25) to facilitate the commencement of its lending operations.
The newly established public sector undertaking is actively engaging with leading financial institutions and plans bond issuances to raise the necessary capital. SMFCL is also in discussions with major rating agencies, anticipating apex-scale ratings that will bolster investor confidence and optimize borrowing costs.
SMFCL is poised to finance the entire maritime value chain, encompassing ports, infrastructure, coastal development, shipping, and inland waterways, with a special focus on vessel financing. This initiative aims to bolster India's shipbuilding capabilities and its presence in the global maritime arena.
