Nimbus Projects to renew ₹60 Crore loan from associate Nimbus (India) Ltd.
Nimbus Projects Limited's Board approved renewing an unsecured loan of ₹60 Crore from associate Nimbus (India) Limited. The facility carries a 12% annual interest for two years and requires shareholder approval at the 33rd AGM. This is a material related party transaction.
The renewal of a significant loan facility (₹60 Crore) from a related party impacts the company's financial structure and operations, requiring shareholder approval, thus having a medium impact.
The company is renewing a loan facility from an associate company. While it secures funding, it's a related party transaction and requires shareholder approval, making the immediate impact neutral.
Nimbus Projects Limited (NPL) announced on August 12, 2026, that its Board of Directors has approved the renewal of an unsecured loan/credit facility of up to ₹60.00 Crore from Nimbus (India) Limited, an associate company and a related party.
The loan will be availed in tranches at an interest rate of 12% per annum for a further period of 2 years. This decision is subject to the approval of the shareholders at the upcoming 33rd Annual General Meeting (AGM).
The lender, Nimbus (India) Limited, is a Delhi-based Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India. The purpose of the loan is for business operations. The loan agreement will be executed after obtaining shareholder approval. This renewal is considered a material related party transaction. The company's website, www.nimbusprojectsltd.com, will have this information available. The Board Meeting was held on August 12, 2026, commencing at 3:30 p.m. and concluding at 8:00 p.m.
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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.