Xtglobal Infotech Limited has informed the Exchange about Agreements
XTGLOBAL · price
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Xtglobal Infotech Limited has availed a Rupee Term Loan of up to Rs 25 crore (Rs 250 million) from ICICI Bank Limited, with the agreement executed on August 30, 2025. The loan will be used to make an exit application and repay duty exemptions availed during the construction of the company's office facility at Madhurawada IT/ITES SEZ in Visakhapatnam, and also for infrastructure development and business needs. By completing this exit, the company plans to lease out its unutilized surplus office space, which is expected to add approximately Rs 5 crore per year to its bottom line. The outstanding amount at the time of execution is nil, and the transaction is not a related party transaction.
This is a positive development for shareholders — the new Rs 25 crore facility enables the company to monetize unused office space through rentals (potentially Rs 5 crore annual revenue boost) and fund growth, while the debt is fresh and currently nil outstanding, indicating prudent leverage initiation.