V R Infraspace Limited — Important, 24-12-2024: Updates

Daxon Realty Limited, a subsidiary of V R Infraspace Limited, has executed an Indenture of Mortgage cum Charge with Bajaj Housing Finance Limited. The loan facility is capped at ₹45 crore (cr) to support construction finance and working capital for the residential project named "Facility". The agreement features an exclusive first charge on land and unsold units of the project "V R Vivanta", alongside a second charge on “V R Luxuria”. The facility has a tenure of up to 66 months, with a principal standstill period of 36 months, at an interest rate of 12.35% per annum. Monthly interest payments will commence during the standstill period, which may position the company for strengthened financial stability and project momentum. Shareholders should watch closely for how these financing activities could enhance growth prospects.