Nimbus Projects Limited plans to avail unsecured loan facility of Rs 60 Crore from associate company
Nimbus Projects Limited has decided to continue availing an unsecured loan and credit facility up to Rs 60.00 Crore from its associate company, Nimbus (India) Limited. The decision, made by the Board of Directors on August 12, 2026, concerns a business loan intended for the company.The proposal involves availing or continuing an unsecured loan/credit facility up to Rs 60.00 Crore from Nimbus (India) Limited, a Delhi-based Non-Banking Financial Company (NBFC). This transaction is defined as a material related party transaction.
Details regarding the proposed loan facility include:
- Amount: The facility is capped at Rupees 60.00 Crore.
- Interest Rate: The interest rate for the loan is set at 12% per annum.
- Duration: The facility will be availed for a period of 2 years.
- Structure: The loan is structured to be received in tranches.
The companies relationship is noted as being that of an associate company and related party, with Nimbus (India) Limited acting as the lender. The loan agreement itself is set to be executed after receiving shareholder approval.
Key transaction particulars are provided below:
| Particulars | Detail of Disclosure |
|---|---|
| Lender Detail | Nimbus (India) Limited (NIL), a Delhi-based Non-Banking Financial Company (NBFC). |
| Purpose of Loan | Business Loan. |
| Amount of Loan | Rupees 60.00 Crore to be availed in tranches. |
| Nature/Rate/Security | Proposal for unsecured loan/credit facility up to Rs 60.00 Crore, at an interest rate of 12% per annum for a period of 2 years. |
| Status | The facility is subject to the approval of shareholders at the company's ensuing 33rd Annual General Meeting. |
NIMBSPROJ Stock Price Movement
Nimbus Projects Limited slipped by 0.27% on Wednesday, settling at ₹184.99 after shedding ₹0.50 from the previous close. The stock saw a traded volume of 267 shares during the 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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