Nimbus Projects Limited Avails Term Loan Facility of Up To Rs 40 Crore from ICICI Bank
Nimbus Projects Limited has secured a term loan facility of up to Rupees 40 Crore from ICICI Bank Limited to support its ongoing projects and manage existing debt obligations. The company’s Board of Directors approved the terms for availing this facility, which is supported by collateralizing key aspects of one of its projects located in Greater Noida.The financing arrangement involves a term loan facility of up to Rs 40 Crore from ICICI Bank Limited, operationalized over 36 months at an interest rate of 10.10% per annum. The credit arrangement letter was dated July 20, 2026.
According to the details provided, the purpose of this loan facility is twofold. Firstly, up to Rs 40 Crore is designated for the repayment of existing term loan facilities that Nimbus Projects Limited has availed from other lenders and are utilized towards the cost of ongoing projects (excluding land, TDR, and FSI costs). Secondly, any balance of the proposed loan would be used toward funding the cost of continuing projects.
The facility was granted in various tranches and requires IITL-Nimbus, The Express Park View to act as a Guarantor.
Loan Details and Security Structure
Key details regarding the new financial arrangement are summarized below:| Particulars | Detail |
|---|---|
| Lender | ICICI Bank Limited |
| Total Loan Amount | Not exceeding Rs 40 Crore |
| Interest Rate | 10.10% p.a. |
| Duration | 36 months |
| Sanction Date | July 20, 2026 |
The facility is secured through multiple charges against the project in Greater Noida. These include a First Pari Pasu charge by way of equitable mortgage on an area measuring approximately 52,493.16 square meters located at Plot No GH-03, Sector CHI-V, Greater Noida, Gautam Budh Nagar, Uttar Pradesh.
Further securing measures include:
- A first Pari Pasu charge by way of equitable mortgage on unsold units of the project, including any cancellations of sold units.
- A First Pari Passu charge by way of hypothecation on the future Scheduled Receivables of the Project and all insurance proceeds, both present and future.
- A First Pari Passu charge by way of hypothecation on the Escrow Account/s of the Project.
- An Exclusive charge by way of hypothecation on the DSR Account and all monies credited or deposited therein, along with any investments related to it.
NIMBSPROJ Stock Price Movement
Today, shares of Nimbus Projects Limited edged higher, gaining 1.84% and settling at ₹193.50 after market close. The equity saw a total traded volume of 1,096 shares in the post-market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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