GNG Electronics Limited Boosts Working Capital Facility with Axis Bank
GNG Electronics Limited announced an addendum to its working capital loan agreement with Axis Bank Limited on March 23, 2026. The agreement, initially executed on February 23, 2026, enhances the existing credit facilities from INR 44,00,00,000 to INR 65,00,00,000. The increased facility will be used to meet the company's working capital requirements.The agreement does not include provisions granting special rights, such as the right to appoint directors or first right to share subscription. No parties involved are related to the company’s promoters or group companies. The transaction does not constitute a related party transaction.
The loan agreement, valued at INR 65,00,00,000, is secured by a pari passu charge on the hypothecation of the company’s entire current assets, both present and future.
| Particulars | Details |
|---|---|
| Parties Involved | Axis Bank Ltd |
| Purpose | Enhance credit facilities for working capital needs |
| Agreement Size | INR 65,00,00,000 |
| Shareholding | Nil |
| Security Provided | Pari Passu Charge on Extension of Hypothecation of entire Current assets of the Company, both present and future |
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