Nimbus Projects Ltd Secures ₹40 Cr Term Loan from ICICI Bank
Nimbus Projects Ltd has announced a corrigendum regarding its term loan facility. The company's Board of Directors, in a meeting held on July 27, 2026, approved availing a term loan of up to ₹40 Crore from ICICI Bank Limited. The loan will be utilized for repaying existing term loan facilities used for ongoing projects and for transaction-related expenses. Additionally, any remaining balance will fund ongoing project costs. The loan carries an interest rate of 10.10% per annum for a tenure of 36 months. IITL-Nimbus, The Express Park View, has been authorized to act as a guarantor for this facility. The loan is secured by various charges, including an equitable mortgage on a significant land parcel in Greater Noida and unsold units of a project.
Key Highlights
- Nimbus Projects Ltd secures ₹40 Crore term loan from ICICI Bank.
- Loan proceeds to repay existing debt and fund ongoing projects.
- Interest rate set at 10.10% p.a. with a 36-month tenure.
- IITL-Nimbus authorized as guarantor for the loan.
- Facility secured by equitable mortgage on land and project assets.
Price Impact
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