Nimbus Projects Ltd — Important, 27-07-2026: Company Update

Nimbus Projects Limited's Board finalized terms to act as a guarantor for its subsidiary, IITL-Nimbus, The Express Park View. This guarantee supports a secured loan facility of up to Rs. 23.00 Crore from ICICI Bank. The funds will be primarily used to repay existing term loans for ongoing projects and cover remaining project costs. The loan carries an interest rate of 10.10% per annum for a 36-month period. This strategic move aims to bolster the subsidiary's financial stability and project completion, with the loan secured by specific project assets, unsold units, future receivables, and escrow accounts.