Investment31 Aug 2025, 11:30 am
XTGlobal Infotech Ltd Secures Rupee Term Loan of 2250 Million from ICICI Bank for Infrastructure Development
AI Summary
XTGlobal Infotech Ltd has entered into an agreement with ICICI Bank Limited for a Rupee Term Loan of up to 3250.00 million. The loan, worth 2250.00 million at the time of execution, is sanctioned for infrastructure development, making exit application, and repayment of duty exemptions for its office facility at Madhurawada IT/ITES SEZ Visakhapatnam. The loan is expected to positively impact the bottom line by approximately 35 crores per annum. The loan is within the borrowing limits approved under Section 180(1)(c) of the Companies Act, 2013.
Key Highlights
- XTGlobal Infotech Ltd secures a Rupee Term Loan of 2250.00 million from ICICI Bank Limited
- The loan is for infrastructure development and repayment of duty exemptions for its office facility
- The loan is expected to positively impact the bottom line by approximately 35 crores per annum
- The loan is within the borrowing limits approved under Section 180(1)(c) of the Companies Act, 2013
- ICICI Bank Limited is not related to the Promoter/Promoter Group/Group Companies of XTGlobal Infotech Limited