Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015-Availing of Unsecured Loan Facility
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Nimbus Projects Ltd's Board has approved availing an unsecured loan facility of Rs. 20 Crore from DRC Systems India Limited. The loan carries an interest rate of 8.25% per annum and has a tenure of 3 years. The funds will be used for working capital and general business purposes. No security has been provided against the loan, and the loan agreement is yet to be executed.
The company is raising Rs. 20 Crore in unsecured debt at a competitive rate of 8.25% for working capital needs. While this provides liquidity flexibility, unsecured borrowing increases financial risk for lenders but is neutral to mildly positive for shareholders as it supports business operations without requiring collateral.