Nimbus Projects lines up Rs 40 crore ICICI Bank loan to refinance debt
What's the deal? Nimbus ProjectsDealroom has a profile for this one. Try Dealroom → has secured a term loan facility of up to Rs 40 crore (≈$4.2 million) from ICICI BankDealroom has a profile for this one. Try Dealroom →, structured as post-IPO debt. The facility runs over 36 months at an interest rate of 10.10% per annum, with a credit arrangement letter dated July 20, 2026.
What's the money for? The purpose is twofold: repaying existing term loans from other lenders tied to ongoing projects, and funding the cost of continuing projects. Land, TDR, and FSI costs are excluded from the refinancing.
What's the collateral? The loan is secured against one of the company's projects in Greater Noida. That includes a first pari passu charge by way of equitable mortgage on roughly 52,493.16 square metres at Plot No GH-03, Sector CHI-V, plus charges on unsold units, receivables, and escrow accounts. IITL-Nimbus, The Express Park View acts as guarantor.
Why now? The facility marks a quick re-raise for the developer, layering fresh bank credit onto its balance sheet to consolidate obligations across lenders. The board approved the terms before drawing the facility in tranches.
By the numbers: Shares of Nimbus Projects gained 1.84% to close at ₹193.50, on a traded volume of 1,096 shares in the post-market session.
The signal: Using a single bank facility to refinance scattered project loans is a familiar move for smaller listed developers managing debt costs. For Nimbus, the ICICI arrangement swaps a spread of lenders for one 36-month line — simpler to service, but firmly secured against its Greater Noida assets.
Read more: investoomarket.com
Image credit: Jnzl's Photos
