GNG Electronics Limited has informed the Exchange about Execution of Addendum to Working Capital Loan Agreement with Axis Bank Limited
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GNG Electronics has executed an addendum to its working capital loan agreement with Axis Bank, increasing the credit facility from INR 44 crore to INR 65 crore — a jump of INR 21 crore. The enhanced facility will be used to meet the company's working capital needs. The addendum was signed on February 23, 2026, and the executed copy was received on March 23, 2026. Currently, INR 36.66 crore is outstanding under the facility. The loan is secured by a pari passu charge on the company's current assets, both present and future. The agreement carries no special rights for the lender and is not a related-party transaction.
This is a positive signal indicating the bank is willing to lend more to the company, which suggests confidence in its working capital cycle and growth plans. Shareholders may see this as supportive of operational expansion, though it also raises the company's debt obligations.