Morepen Laboratories has announced that its Finance Committee has approved a significant financial arrangement with Shinhan Bank. The company secured an unsecured term loan facility amounting to ₹30 crore. This decision was made during a board meeting held on April 23, 2026.
The loan agreement with Shinhan Bank is intended to support Morepen Laboratories‘ general business purposes. The terms of the loan include an interest rate of 7.60%, which is composed of the current repo rate of 5.25% plus a spread of 2.35%. The loan tenure is set for 36 months, with repayment scheduled in 10 equal quarterly instalments following a moratorium period of six months.
The agreement does not involve any shareholding or special rights, such as the appointment of directors or changes in capital structure. Mr. Sushil Suri, the Promoter, Chairman, and Managing Director of Morepen Laboratories, has provided a personal guarantee for the loan facility.
As of the date of the agreement, Morepen Laboratories’ total outstanding loan exposure, excluding the newly acquired facility, stands at ₹182.62 crore. This includes an existing outstanding amount of ₹20.45 crore with Shinhan Bank.
The execution of this agreement took place on April 23, 2026, and the loan is secured by the personal guarantee of Mr. Suri. There are no related party transactions involved in this agreement, and no shares are being issued as part of the arrangement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).