Himalaya Food's Financial Rebirth: A New Chapter in Growth
Himalaya Food International's One Time Settlement has been extended to September 2026 by a lender consortium led by State Bank of India. This move decreases financial risk and enables asset monetization, capital infusion, and operational expansion. Having paid Rs 77 crores, the company is poised for revived growth.
- Country:
- India
Himalaya Food International announced that its One Time Settlement (OTS) with a lender consortium led by the State Bank of India has been extended until September 2026. The extension is expected to significantly reduce financial risk for Himalaya Food and sets the stage for potentially transformative growth, as stated by the company on Saturday.
This extension allows Himalaya Food to pursue asset monetization strategies, seek capital infusion through rights issues or preferential shares, and expand its export-driven business sectors. Of the Rs 43 crore final settlement, Rs 21.50 crore has already been paid, with expectations to meet the remaining balance within the new timeline.
Despite hurdles such as the lack of returned machinery from a joint venture partner and a fire at its Gujarat facility, Himalaya Food has continued to meet its financial obligations. Chairman & CEO Man Mohan Malik highlighted the approval as a pivotal moment, underlining the company's capability in having already deposited Rs 77 crores under the revised OTS terms.
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