GNG Electronics Limited has informed the Exchange about Execution of Supplemental and Amendatory Agreement with ICICI Bank Limited
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GNG Electronics Limited has signed a supplemental and amendatory agreement with ICICI Bank Limited dated March 10, 2026, enhancing its overall credit limits from INR 400 million to INR 720 million — an 80% increase. The facility will be used to meet the company's working capital needs. Of the total INR 720 million limit, INR 380 million is currently outstanding. The facility is secured by a pari passu charge on current assets and receivables (present and future) and an exclusive charge on a fixed deposit. The agreement does not grant ICICI Bank any special rights such as director appointment, share subscription preference, or capital structure restrictions, and the transaction is not a related-party deal.
The significant enhancement in working capital limits signals lender confidence in the business and provides substantial headroom to fund operations and growth. For shareholders, this is a positive operational signal, though it also increases the company's debt capacity utilization and reliance on bank funding.