SMFCL Board Approves Loans of ₹4,300 Cr to Mark Entry into Maritime Financing

Sagarmala Finance Corporation on Tuesday announced its foray into maritime financing with its board sanctioning loans of ₹4,300 crore for disbursement in the current fiscal.

Sagarmala Finance Corporation Ltd (SMFCL) was inaugurated as India’s first Non-Banking Financial Company (NBFC) in the maritime sector.

"Including this loan sanction of ₹4,300 crore which is scheduled for the disbursement in the present fiscal year, the company is aiming to build the loan book size of ₹8,000 crore in FY 2025-26, to further strengthen its position in maritime financing," SMFCL said in a statement.

The rating assignment by the major rating agencies is expected shortly which will further enhance in leveraging the borrowing cost, it added.

SMFCL said that the ambitious strategy charted by the company is further backed by the strong support and trust shown by the Ministry of Ports, Shipping and Waterways, which has designated SMFCL as nodal agency for the setting-up and operational co-ordination for flagship Maritime Development Fund of ₹25,000 crore. The fund shall include Maritime Investment Fund (MIF) with a corpus of ₹20,000 crore, and the Interest Incentivization Fund (IIF), with a corpus of ₹5,000 crore.

The company said SMFCL shall hold and manage GoI’s contribution to the AIF established for MIF against GoI’s contribution in fiduciary capacity.

Further, it said SMFCL is the nodal Agency to channelise the IIF of ₹5000 crore, which will also enhance its scope of funding in the maritime sector.

The notification of guidelines for the Shipbuilding Financing Assistance Scheme of ₹44,700 crore shall further open the new avenues of investment and collaboration for SMFCL.

"SMFCL shall be offering tailored loan products to all eligible government & private sector entities operating in the entire gamut of the Maritime sector," it said, adding that SMFCL shall be offering all types of loans, short-term, long-term & medium-term lending, including the cash-flow mismatches, balance sheet financing and non-fund-based products.

SMFCL, formerly known as Sagarmala Development Company Limited, is India's first maritime sector-specific Non-Banking Financial Company.

It was formally registered as an NBFC with the Reserve Bank of India (RBI) on June 19, 2025.

The corporation comes under the Ministry of Ports, Shipping and Waterways. It aims to bridge the financial gaps in the maritime sector, facilitate investments, and provide sector-focused financial products to port authorities, shipping companies, MSMEs, start-ups, and maritime educational institutions.