Loan & Debt27 May 2026, 11:01 pm
Nimbus Projects: ₹250 Cr Term Loan from Piramal Finance
AI Summary
Nimbus Projects Ltd has secured a term loan facility of ₹250 Crore from Piramal Finance Limited. The loan, approved by the Board of Directors on May 27, 2026, will be utilized for general corporate purposes. IITL-Nimbus, The Palm Village will act as a co-borrower. The loan is divided into two facilities: ₹200 Cr at 13.00% p.a. and ₹50 Cr at 11.75% p.a., both fixed for a 48-month period. The loan is secured by mortgage over leasehold land, hypothecation of project receivables, and personal guarantees.
Key Highlights
- Nimbus Projects secures ₹250 Cr term loan from Piramal Finance.
- Loan will be used for general corporate purposes.
- Interest rates are 13.00% p.a. and 11.75% p.a. fixed for 48 months.
- IITL-Nimbus, The Palm Village acts as co-borrower.
- Loan is secured by assets including land and receivables.