Nimbus Projects Ltd has secured a term loan of up to ₹40 crore from ICICI Bank to repay existing loans and fund ongoing projects. The loan has a 36-month tenor and a 10.10% interest rate, with IITL-Nimbus and The Express Park View acting as guarantors.
Detailed Coverage
Nimbus Projects Ltd Secures ₹40 Crore Term Loan from ICICI Bank
Nimbus Projects Ltd has obtained a term loan facility of up to ₹40 crore from ICICI Bank Limited. The sanction letter for this facility is dated July 20, 2026, and the Board of Directors approved it on July 27, 2026.
Reader Takeaway: Debt restructuring and project funding achieved; asset pledge is a key watch point.
What just happened
The company announced the availing of a term loan facility of up to ₹40 crore from ICICI Bank. This loan has a tenor of 36 months with an interest rate of 10.10% per annum.
Why this matters
These funds are intended to repay existing term loans used for project costs (excluding land, TDR, and FSI) and to finance ongoing projects. This move aims to optimize the company's capital structure and ensure project continuity.
The backstory
Nimbus Projects Ltd is actively managing its finances through debt facilities. This new loan is part of a strategy to consolidate and manage existing liabilities, potentially leading to better cost optimization.
What changes now
The company gains access to ₹40 crore, which will be used for debt repayment and project funding. IITL-Nimbus and The Express Park View will serve as guarantors for this facility.
Risks to watch
The loan is secured by a first pari passu charge on a land parcel of 52,493.16 sq. mtrs., unsold units, future receivables, and escrow accounts. It also has an exclusive charge on the DSR account. Investors should monitor how this asset pledging impacts the company's flexibility for these specific projects.
Peer comparison
(Information not available in the filing.)
Context metrics (time-bound)
- Facility Type: Term Loan
- Lender: ICICI Bank Limited
- Maximum Amount: Up to ₹40 crore
- Interest Rate: 10.10% p.a.
- Loan Tenor: 36 months
- Guarantors: IITL-Nimbus, The Express Park View
- Security: First pari passu charge on land (52,493.16 sq. mtrs.), unsold units, future receivables, escrow accounts, and exclusive charge on DSR account.
What to track next
Investors should monitor the company's project execution and financial health following the utilization of these funds.