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The loan is intended to address immediate funding requirements of SiCSem for commencement of procurement of long-lead machinery, equipment, and associated items, which are essential to maintain project timelines, pending execution of the Fiscal Support Agreement (FSA) with the Government of India under the India Semiconductor Mission (ISM) framework.
Neun Infra is the holding company for SiCSem, which has received approval under the India Semiconductor Mission for setting up a compound semiconductor and ATMP manufacturing facility in India. The proposed funding is aligned with advancing early-stage capital commitments of the approved project.
• Total Bank Loan Facilities Rated: Rs. 3000 crore (Enhanced from Rs. 2500 crore)
• Long Term Rating: Crisil A/Stable (Reaffirmed) • Short Term Rating: Crisil A1 (Reaffirmed)
Pursuant to the above commissioning, the Company's aggregate solar module manufacturing capacity now stands increased to 10.3 GW.