Mumbai, February 21, 2025 – Eris Lifesciences Limited (BSE: 540596, NSE: ERIS) has announced that it has availed a credit facility amounting to ₹1,000 million (₹100 crore) from Kotak Mahindra Bank Limited.
Despite securing this loan, the company has clarified that its aggregate debt level will remain unchanged. The credit facility is categorized as a working capital demand loan, sanctioned under a February 20, 2025, letter.
Key Loan Details:
Particulars
Details
Lender
Kotak Mahindra Bank Limited
Loan Type
Working Capital Demand Loan
Amount
₹1,000 million (₹100 crore)
Date of Sanction
February 20, 2025
Security Provided
NIL
Related Party Transaction
No
Change in Capital Structure
No Impact
The agreement does not include provisions for special rights, such as appointing directors or changing the company's capital structure. Furthermore, no shares have been issued in connection with this transaction, and Kotak Mahindra Bank does not hold any shareholding in Eris Lifesciences.
Strategic Outlook
The loan will provide additional financial flexibility to support Eris Lifesciences’ business operations, though details regarding how the funds will be used have not been disclosed.