Shiva Cement secures ₹250 crore loan from DBS Bank

Shiva Cement (BSE: SHIVACEM) announced it has executed a Facility Agreement with DBS Bank India Limited, securing a term loan facility not exceeding ₹250 crore (Indian Rupees Two Hundred Fifty Crores). The agreement, dated February 27, 2025, will support the company's previously disclosed plans for a cement grinding unit. The funding will be used in connection with a transaction involving Bhushan Power and Steel Limited (BPSL), for setting up of a 1.0 MTPA cement grinding unit by BPSL in BPSL's premises at Sambalpur, Odisha and the right available to the Company to subsequently acquire the said unit. JSW Cement Limited (JSWCL) will provide a corporate guarantee for the facility. The company approved the said transaction through postal ballot on February 22, 2025.