Shivamshree lines up $1.05M in bank debt months after a scrapped equity raise
What's the deal? Shivamshree BusinessesDealroom has a profile for this one. Try Dealroom →, listed on the NSE as SBL, has secured US$1.36M in credit facilities from Bank of BarodaDealroom has a profile for this one. Try Dealroom →. The board approved the borrowing at a meeting on November 3, 2026.
The breakdown: The package comprises Term Loan I of US$543.2K, Term Loan II of US$169.8K, and a cash credit limit of US$645.1K for working capital. The facilities are sourced from the bank's Ambawadi branch in the Ahmedabad region.
Why now? The debt line follows a failed equity attempt. In June, Shivamshree withdrew a proposed preferential issue meant to raise about US$434.6K, citing market conditions and prospective investors' constraints.
The bank facilities give it access to a far larger financing line than the shelved share sale would have — but as secured borrowing, not equity.
What could go wrong? To secure the loans, the board approved primary and collateral charges, including hypothecation and equitable mortgage of specific assets in favour of Bank of Baroda. The company recently reported a net loss of US$54.3K for Q2 FY27 on revenue down 54.8% year on year. The announcement does not establish how much will be drawn or exactly what it will fund.
The signal: At roughly $1.05 million, this is a modest facility — it sits near the bottom of comparable raises on an amount basis. For a micro-cap with a market value near US$1.71M, the move points to companies leaning on secured bank credit when equity markets turn unwelcoming.
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