Sical Logistics secures Rs 115 crore credit from Axis Bank

Sical Logistics Limited has secured credit facilities totaling Rs 115 crore from Axis Bank Limited to support operational needs and restructure existing debt. The board of directors approved the availing of these facilities during a meeting held on May 23, 2026. The financial support is structured across three distinct components to address liquidity, business commitments, and refinancing requirements.

Breakdown of Facilities

The sanctioned credit limit is divided into specific components. The cash credit facility accounts for Rs 15 crore, providing liquidity for day-to-day operations. Additionally, the company has obtained a bank guarantee facility of Rs 15 crore to support its business commitments.

Term Loan Allocation

A significant portion of the total facility, amounting to Rs 85 crore, has been allocated as a term loan specifically for refinancing. This component aims to restructure existing debt obligations and optimize the company's capital structure.

Facility Type	Amount (Rs)
Cash Credit	15 crore
Bank Guarantee	15 crore
Term Loan (Refinancing)	85 crore
Total	115 crore

The company stated that requisite details regarding the facilities agreement will be disclosed upon execution. This information will be made available in accordance with Regulation 30 of the Listing Obligations and Disclosure Requirements Regulations, 2015, read with Securities and Exchange Board of India master circular no. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.99%	-9.67%	+40.18%	+11.53%	-0.22%	+614.11%

Sical Logistics has filed its first monitoring agency report for the quarter ended March 31, 2026, pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 82(4) of the SEBI (Issuance of Capital and Disclosure Requirements) Regulations, 2018. The report was prepared by Brickwork Ratings India Private Limited (BWR) and submitted to the stock exchanges on May 12, 2026. The filing pertains to the monitoring of utilisation of proceeds raised through a rights issue of equity shares by the company.

Rights Issue Details

The rights issue, which ran from February 26, 2026, to March 10, 2026, involved the issuance of equity shares at a price of ₹64 per share. The full amount of ₹93.03 crore as stated in the offer document was received by the company, with no shortfall reported. The following table summarises the key issue details:

Parameter:	Details
Type of Issue:	Right Issue of Equity Shares
Issue Period:	February 26, 2026 to March 10, 2026
Total Securities Issued:	14535790
Issue Price (₹):	64
Value as per Offer Document (₹ Crore):	93.03
Amount Received (₹ Crore):	93.03
Promoter:	Pristine Malwa Logistics Park Private Limited

Utilisation of Issue Proceeds

Brickwork Ratings confirmed that all utilisation of funds was in accordance with the disclosures made in the offer document, as verified through bank statements, company letters, and a CA certificate from Manjeet Kumar & Co., Chartered Accountant, dated May 07, 2026. No material deviation from the stated objects was observed. The following table details the progress in utilisation of issue proceeds as on March 31, 2026:

Item Head:	Amount Proposed (₹ Crore)	Amount Utilised During Quarter (₹ Crore)	Total Utilised (₹ Crore)	Unutilised Amount (₹ Crore)	Status
Repayment/Prepayment of Borrowings:	69.77	70.00	70.00	-0.23	Completed
General Corporate Purpose:	18.61	6.93	6.93	11.68	Ongoing
Issue Expenses:	4.65	3.88	3.88	0.77	Ongoing

The repayment and/or prepayment of borrowings has been completed as of the quarter end, with an amount of ₹70.00 crore utilised against the proposed ₹69.77 crore. General corporate purpose utilisation stood at ₹6.93 crore, with ₹11.68 crore remaining unutilised. Issue expenses utilisation was ₹3.88 crore, with ₹0.77 crore yet to be deployed.

Deployment of Unutilised Proceeds

The unutilised proceeds as at the end of the quarter were deployed across bank accounts and fixed deposits with HDFC Bank. The table below captures the deployment details:

Instrument / Account:	Amount Invested (₹ Crore)	Maturity Date	Return on Investment (%)
HDFC Bank – Right Issue Account (57500001936785):	0.07	–	–
HDFC Bank – Monitoring Account (57500001936798):	2.16	–	–
FD – HDFC – 50301326050621N:	2.00	23-04-2026	3.25%
FD – HDFC – 50301326038411N:	2.00	23-04-2026	3.25%
FD – HDFC – 50301326039173N:	4.99	23-04-2026	4.75%
FD – HDFC – 50301326039874N:	1.00	23-04-2026	3.25%

The above details were verified through bank statements, company statement dated May 07, 2026, and CA certificate dated May 07, 2026.

Monitoring Agency Observations

Brickwork Ratings India Private Limited, acting as the monitoring agency, reported no deviation from the objects of the issue and confirmed that all government and statutory approvals related to the objects have been obtained. The monitoring agency noted no unfavourable or favourable events affecting the viability of the stated objects, and no other material information was identified that could affect investor decision-making. The report was signed by Mr. Niraj Kumar Rathi, Senior Director, Ratings at Brickwork Ratings, on May 08, 2026. The report has also been made available on the company's website at https://sical.in/ . The filing was submitted to the exchanges by Vaishali Jain, Company Secretary and Compliance Officer of Sical Logistics.