India, April 23 -- Morepen Laboratories Limited has entered into a loan agreement with Shinhan Bank to avail a term loan facility of Rs 30 crore for general business purposes.
The agreement, executed on April 23, 2026, carries an interest rate of 7.60% (repo rate of 5.25% plus a spread of 2.35%) and a tenure of 36 months. The repayment will be made in 10 equal quarterly instalments, with an initial moratorium period of six months.
Sushil Suri, Promoter, Chairman and Managing Director of the company, has provided a personal guarantee for the loan facility.
The company stated that it has no shareholding in the lending entity, and the transaction does not qualify as a related party deal. Prior to this facility, Morepen's total outstanding l...