Tega Industries secures Rs 1,500 crore facility for Molycop acquisition

Kinjal — Fri, 22 May 2026 21:35:11 +0000

Tega Industries has executed a significant financial agreement with Standard Chartered Bank, Axis Bank, and Export-Import Bank of India to secure a facility of up to ₹1,500 crore. This move aims to support the proposed acquisition of Molycop.

The facility agreement, signed on 22 May 2026, designates Standard Chartered Bank as the sole mandated lead arranger, underwriter, and bookrunner. Catalyst Trusteeship Limited will act as the facility agent. The agreement includes customary security documents typical for such financing arrangements.

The facility, structured as a term loan, is intended to finance the acquisition of Molycop, aligning with previous disclosures made by Tega Industries on 29 November 2025, 12 February 2026, and 18 May 2026.

Security for the loan includes interests such as mortgage, hypothecation, pledge, share charge, and non-disposal undertakings over certain assets of Tega Industries and its subsidiaries. These assets include immovable properties, movable and current assets, designated reserve account assets, investments, and shares or securities held in identified subsidiaries.

The loan agreement does not involve any shareholding or related party transactions, and no shares will be issued as part of this agreement. The facility’s terms include representations, warranties, covenants, undertakings, events of default, and mandatory prepayment provisions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Export-Import Bank of India | Business Upturn

Tega Industries secures Rs 1,500 crore facility for Molycop acquisition