GNG Electronics Limited has informed the Exchange about execution of Supplemental Working Capital Facilities Agreement with DBS Bank India Ltd
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GNG Electronics Limited has signed a supplemental agreement with DBS Bank India Ltd on March 18, 2026, increasing its existing working capital credit facility from INR 30 crore to INR 80 crore (a nearly 2.7x increase). The company has already drawn INR 25.4 crore against the total sanctioned limit of INR 80 crore. The facility will be used to meet the company's working capital needs and is secured by a pari passu charge on the company's current assets. The original agreement dates back to January 29, 2024, and DBS Bank India Ltd is not related to the promoters or group companies. The agreement does not include any special rights like director appointment or capital structure restrictions.
The significant increase in working capital limits signals that the bank is comfortable extending more credit to the company, which typically reflects confidence in the business and supports growth in operations. For shareholders, this expanded borrowing capacity gives the company more flexibility to fund working capital needs, though it also increases interest obligations.