India’s First Maritime NBFC OKs ₹25,000-Crore Borrowing Plan to Boost Port & Shipping Growth

India’s first dedicated maritime-sector NBFC, Sagarmala Finance Corporation Limited (SMFCL), has secured board approval to raise up to ₹25,000 crore to expand long-term funding for ports, shipyards, coastal logistics and related infrastructure. Approved at the company’s Annual General Meeting, the borrowing plan allows SMFCL to raise capital through banks, financial institutions and bond markets, including an initial ₹8,000 crore during the current financial year.

Operational since June 19, 2025 as an RBI-registered NBFC and functioning as a Mini-Ratna Category-I PSU under the Ministry of Ports, Shipping and Waterways, SMFCL aims to fill long-standing financing gaps in the maritime economy. By providing specialised credit for projects like port connectivity, coastal shipping corridors, vessel acquisition, shipbuilding and maritime MSMEs and startups, the organisation is positioned as a key driver of the government’s Maritime Amrit Kaal Vision 2047. The borrowing programme will also be partly supported by the government-backed ₹25,000-crore Maritime Development Fund.

Officials say the expanded borrowing capacity will give SMFCL the financial strength to scale aggressively and accelerate private investment in the maritime sector. However, analysts warn that its success will depend on its ability to secure funds at competitive rates and manage sector-specific risks such as regulatory uncertainty and project delays. The first phase of fundraising will be closely watched as an indicator of investor confidence in the newly formed NBFC.

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