Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015-Acting as co-borrower regarding availing of secured loan/credit facility of Rs.11.36 Crore & Rs.25 lakhs
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Nimbus Projects Ltd will act as co-borrower for two new secured loan facilities totaling about Rs. 11.61 crore (Rs. 11.36 crore + Rs. 25 lakh) from Aditya Birla Capital Limited, availed by its partnership firm IITL-Nimbus, The Express Park View. The funds will be used for general corporate purposes, carry a floating interest rate of 12% per annum, and have a tenure of 42 months. Security includes a mortgage on 91 unsold units at the Express Park View project in Greater Noida, hypothecation of project receivables worth Rs. 185.60 crore, and an additional mortgage on the GoldenPalm hotel property in Delhi (valued at Rs. 66.81 crore). The personal guarantee of Mr. Bipin Agarwal and corporate guarantee of Indogreen International have also been provided. The loan agreements were executed on December 27, 2025, with board approval on December 29, 2025.
This is a new borrowing that increases the company's debt obligations and exposes it to co-borrower liability, though the moderate size (~Rs. 11.61 crore) and long tenure suggest manageable impact. Shareholders should note the 12% interest rate is relatively high, and the heavy security structure including the hotel property indicates significant collateral exposure.