Union Minister Sarbananda Sonowal opened the new SMFCL office at the Institute for Studies in Industrial Development in New Delhi, declaring the institution the country’s first dedicated non‑banking finance company for maritime projects. He stressed the role of SMFCL in mobilising long‑term capital for ports, shipyards and coastal links, echoing Prime Minister Narendra Modi’s Maritime Amrit Kaal Vision 2047.
As of 30 September 2026, SMFCL has sanctioned ₹11,563 crore in financing and disbursed ₹5,107 crore, leaving more than half of the sanctioned amount still available for future projects. The corporation’s portfolio now spans ports, rail and road links, inland waterways and ship repair facilities.
The firm’s ambition is clear: reach cumulative disbursements of ₹60,205 crore by FY2031, a figure that will require a balanced debt‑to‑equity ratio in line with Reserve Bank of India norms. To meet this, SMFCL is seeking an equity infusion that will expand its lending capacity across the maritime value chain.
Parallel to SMFCL’s lending, the Maritime Development Fund (MDF) is taking shape. The Managed Investment Fund (MIF) component, managed by SBI Ventures Limited, is scheduled for SEBI registration by the end of November and will close its first tranche of ₹5,000 crore in January 2027. The Interest Incentivisation Fund (IIF) is already live, with ₹4,500 crore in loans supported and ₹25 crore in interest subvention released.
The combined effort will ease borrowing costs for shipyards, provide a credit‑risk cover corpus, and ensure that capital reaches projects and is tracked to completion. A notable example is the recently approved ₹2,800 crore loan for the expansion of the New Mangalore Port shipyard, which will add 1,500 berths and boost cargo throughput.
Next, SMFCL will finalize its equity raise and complete the MDF registration, paving the way for the January 2027 fund close. Once funded, the corporation will ramp up disbursements to meet the ₹60,205‑crore target and accelerate India’s transformation into a maritime power.