Intimation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015-Availing of term loan facility
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Nimbus Projects Ltd's board has approved availing a term loan of Rs. 250 crore from Piramal Finance Limited, structured in two tranches: Facility 1 of Rs. 200 crore at 13% p.a. fixed interest and Facility 2 of Rs. 50 crore at 11.75% p.a. fixed interest, both with a 48-month tenure. The loan is for general corporate purposes, with IITL-Nimbus, The Palm Village acting as co-borrower. Security includes a mortgage over 11.8 acres of leasehold land at The Palm Village project in Sector 22A, Yamuna Expressway, hypothecation of project receivables, and 100% hypothecation of the partnership interest. Personal guarantees have been provided by promoters Mr. Bipin Aggarwal and Mr. Sahil Aggarwal. The sanction letter was issued on May 21, 2026.
Taking on Rs. 250 crore in debt at interest rates of 11.75-13% p.a. will increase the company's financial obligations over 4 years, which investors should monitor for impact on profitability and debt servicing capacity.