Grasim Industries has entered into three term loan agreements on April 3, 2023 totalling Rs 5,000 crore with Axis Bank, and will utilise the amount towards capital expenditure and repayment of existing loans.

The flagship company of Aditya Birla Group has executed agreements for a secured loan of Rs 4,850 crore, and two unsecured loans of Rs 70 crore and Rs 80 crore. The rupee term loans have a 10-year tenure.

The secured loan will be utilised for capital outlay, reimbursement of capital expenditure already incurred in the last 12 months or re-payment of existing borrowings. The company will channelise the two unsecured term loans worth Rs 150 crore for capital expenses on identified projects.

Grasim has a diversified portfolio of cement, paints, financial services, and other businesses, and is a global producer of viscose staple fibre (VSF), the largest chlor-alkali, and, linen and insulators.