Nimbus Projects Renews ₹60 Cr Loan Facility from Associate

Nimbus Projects Ltd announced its Board of Directors has approved the renewal of an unsecured loan/credit facility of up to ₹60.00 Crore from its associate and related party, Nimbus (India) Limited. This facility will be availed in tranches at an interest rate of 12% per annum for a further period of 2 years. Shareholder approval is required at the upcoming 33rd Annual General Meeting. The loan is intended for business purposes. The transaction is considered a material related party transaction.