Nimbus Projects Acts as Guarantor for ₹23 Crore Loan from ICICI Bank
Nimbus Projects Limited will act as a guarantor for a ₹23 Crore term loan facility from ICICI Bank. The loan, sanctioned on July 20, 2026, has a 36-month tenure and a 10.10% interest rate. Funds will be used for ongoing project costs and repayment of existing loans.
The company is providing a guarantee for a significant loan amount, which can impact its financial obligations and risk profile. While it supports project funding, the guarantee itself carries a MEDIUM impact due to the financial commitment involved.
The announcement is a standard disclosure regarding the company acting as a guarantor for a loan, which is a routine financial activity. It does not inherently indicate positive or negative performance.
Nimbus Projects Limited (NPL) announced that its Board of Directors, in a meeting held on July 27, 2026, approved acting as a guarantor for a term loan facility of up to ₹23.00 Crore. This facility is being availed by its subsidiary entity, IITL-Nimbus, The Express Park View, from ICICI Bank Limited.
The purpose of the loan is to facilitate the repayment of existing term loan facilities utilized for the cost of ongoing projects of the Borrower Group, excluding land, TDR, and FSI costs. Any remaining balance from the proposed loan may also be utilized towards funding ongoing projects.
The term loan, not exceeding ₹23.00 Crore, will be provided by ICICI Bank Limited, with an interest rate of 10.10% per annum and a tenure of 36 months. The credit arrangement letter was sanctioned on July 20, 2026.
Nimbus Projects Limited will act as the guarantor for this facility. The loan will be secured by a first pari passu charge through equitable mortgage on approximately 52,493.16 sq. mtrs. of land located in Greater Noida, Uttar Pradesh, and on unsold units of the project. Additionally, there will be a first pari passu charge by way of hypothecation on the future scheduled receivables of the project, all insurance proceeds (present and future), and the project's escrow accounts. An exclusive charge by way of hypothecation will be placed on the DSR Account and its associated monies and investments.
Further details are available on the company's website at www.nimbusprojectsltd.com.
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Nimbus Projects Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Nimbus Projects Limited. Read the original for the full detail.