GNG Electronics Limited Enhances Working Capital Facility with Kotak Mahindra Bank
GNG Electronics Limited announced on March 17, 2026, that it has entered into a supplemental agreement with Kotak Mahindra Bank Ltd. The agreement, effective March 16, 2026, modifies a Master Facility Agreement originally established on July 26, 2024.The purpose of the supplemental agreement is to enhance the overall limit from 51,00,00,000 Indian Rupees to 75,00,00,000 Indian Rupees and to permit interchangeability between the various facilities. The facility will be utilized for meeting the working capital requirements of the company.
Here's a summary of the key details:
| Particulars | Details |
|---|---|
| Parties Involved | Kotak Mahindra Bank Ltd. |
| Agreement Size | 75,00,00,000 Indian Rupees (Rupees Seventy-Five Crores Only) |
| Shareholding | Nil |
| Key Terms | The agreement does not include provisions regarding director appointments, preemptive rights for share subscriptions, or restrictions on capital structure changes. |
| Related Party Transaction | No |
| Loan Details | Working Capital Loan: 75,00,00,000 Indian Rupees (Rupees Seventy-Five Crores Only) |
| Outstanding Loan | NIL |
| Execution Date | March 16, 2026 |
| Security Provided | First pari passu hypothecation charge on all existing and future receivables / current assets of the Company |
| Other Disclosures | None |
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