SMFCL Board Approves ₹4,300 Crore Loans to Enter Maritime Financing Sector

Sagarmala Finance Corporation Limited (SMFCL) has marked its strategic entry into maritime financing with the board's approval of ₹4,300 crore in loans scheduled for disbursement during the current fiscal year. This significant move positions the corporation as a key player in India's maritime financing landscape, with ambitious growth targets and strong government backing.

Strategic Growth Targets and Financial Projections

The corporation has outlined clear expansion plans following this initial loan sanction. SMFCL aims to build its loan book size to ₹8,000 crore by FY 2025-26, demonstrating its commitment to strengthening its position in maritime financing. The company expects rating assignments from major rating agencies shortly, which should help leverage borrowing costs and improve its financial positioning.

Financial Milestone	Amount	Timeline
Current Loan Sanction	₹4,300 crore	Current fiscal year
Target Loan Book Size	₹8,000 crore	FY 2025-26
Maritime Development Fund	₹25,000 crore	Ongoing

Government Support and Nodal Agency Role

SMFCL's ambitious strategy receives strong backing from the Ministry of Ports, Shipping and Waterways, which has designated the corporation as the nodal agency for establishing and coordinating the flagship Maritime Development Fund worth ₹25,000 crore. This substantial fund comprises two key components that will significantly enhance SMFCL's operational scope.

The Maritime Development Fund structure includes:

Maritime Investment Fund (MIF): ₹20,000 crore corpus
Interest Incentivization Fund (IIF): ₹5,000 crore corpus

SMFCL will hold and manage the Government of India's contribution to the Alternative Investment Fund established for MIF in a fiduciary capacity. Additionally, as the nodal agency for channelizing the ₹5,000 crore IIF, the corporation will expand its funding scope within the maritime sector.

Comprehensive Loan Product Portfolio

The corporation plans to offer tailored loan products to eligible government and private sector entities across the entire maritime sector spectrum. SMFCL's lending portfolio will encompass various financing solutions designed to meet diverse sector requirements.

Loan Category	Coverage
Short-term Lending	Cash-flow mismatches
Medium-term Lending	Operational financing
Long-term Lending	Infrastructure projects
Non-fund Products	Balance sheet financing

Additional Investment Opportunities

The upcoming notification of guidelines for the Shipbuilding Financing Assistance Scheme worth ₹44,700 crore will create new investment and collaboration avenues for SMFCL. This scheme represents another significant opportunity for the corporation to expand its maritime financing operations and establish strategic partnerships within the shipbuilding sector.

Company Background and Regulatory Status

SMFCL, formerly known as Sagarmala Development Company Limited, holds the distinction of being India's first maritime sector-specific Non-Banking Financial Company. The corporation achieved formal NBFC registration with the Reserve Bank of India on June 19, 2025, marking a crucial regulatory milestone.

Operating under the Ministry of Ports, Shipping and Waterways, SMFCL's primary mission focuses on bridging financial gaps in the maritime sector and facilitating targeted investments. The corporation aims to serve diverse stakeholders including port authorities, shipping companies, MSMEs, startups, and maritime educational institutions through sector-focused financial products.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.98%	+5.35%	-11.49%	+13.00%	-42.15%	+531.75%

JJ Finance Corporation has disclosed a substantial acquisition by its promoter group under SEBI regulations, with promoter Anil Jhunjhunwala increasing his stake in the company through open market purchases. The transaction involved the acquisition of 57,083 fully paid-up equity shares representing 2.02% of the total equity and voting share capital.

Acquisition Details

The share acquisition was executed through open market transactions, with the promoter group purchasing shares worth 2.02% of the company's total equity capital. The acquisition was structured across multiple entities within the promoter group.

Parameter	Details
Total Shares Acquired	57,083 shares
Percentage of Capital	2.02%
Acquisition Mode	Open Market
Share Face Value	₹10.00 per share

Shareholding Pattern Changes

The acquisition resulted in significant changes to the promoter group's shareholding pattern. Anil Jhunjhunwala personally acquired 37,925 shares representing 1.34% of the total capital, while other persons acting in concert (PACs) purchased 19,158 shares representing 0.68%.

Before and After Comparison

Shareholder Category	Before Acquisition	After Acquisition	Change
Anil Jhunjhunwala	12,90,784 shares (45.77%)	13,28,709 shares (47.11%)	+1.34%
Other PACs	4,64,389 shares (16.47%)	4,83,547 shares (17.15%)	+0.68%
Total Promoter Group	17,55,173 shares (62.24%)	18,12,256 shares (64.26%)	+2.02%

Company Capital Structure

JJ Finance Corporation's equity share capital remains unchanged following this acquisition. The company maintains its capital structure with no dilution or expansion of the share base.

Capital Details	Specifications
Total Equity Shares	28,20,000 shares
Face Value per Share	₹10.00
Total Share Capital	₹2.82 crores
Voting Capital	28,20,000 shares

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The promoter filed the necessary documentation with both the Bombay Stock Exchange and Calcutta Stock Exchange, where the company's shares are listed.

The acquisition strengthens the promoter group's control over JJ Finance Corporation, with their combined holding now exceeding 64% of the total equity capital. This transaction demonstrates continued confidence by the promoter group in the company's prospects and strategic direction.