Nimbus Projects Ltd — Important, 28-07-2026: Company Update

The company's Board has approved availing a term loan facility of up to Rs 40 Cr from ICICI Bank. This loan will primarily be used to repay existing project loans and fund ongoing projects. The firm IITL-Nimbus, The Express Park View, will act as guarantor. The loan carries an interest rate of 10.10% per annum for a period of 36 months. Security for the loan includes an equitable mortgage on a specific land area, unsold project units, future receivables, and project escrow accounts. This move is crucial for managing project finances and ensuring progress on current developments.