Board finalises terms to avail unsecured Rs. 60 crore loan from promoter group NBFC at 12% p.a
Board finalised terms to avail an unsecured loan/credit facility of up to Rs. 60 crore from Nimbus (India) Limited, an associate and promoter group NBFC.
By ScoutQuest · · 2 min read
- Loan Amount
- up to Rs. 60 crore
- Interest Rate
- 12% per annum
- Tenure
- 2 years
What the company disclosed
Nimbus Projects Ltd informed the exchanges that its Board of Directors, at its meeting held on Thursday, November 05, 2026, finalised the terms and conditions for availing an unsecured loan/credit facility of Rs. 60 crore (Rupees Sixty Crore only) from Nimbus (India) Limited. The decision was taken on the recommendation of the Audit Committee.
Who is lending
- Nimbus (India) Limited is an RBI-registered NBFC, an associate company of the Company and also a promoter group company.
- The Company holds 47.9 lakh equity shares, or 42.69% of the shareholding, in Nimbus (India) Limited.
- Nimbus (India) Limited holds ~18.22 lakh equity shares, or 9.43%, in the Company.
- Mr. Bipin Agarwal, Managing Director, is a common director and shareholder in both companies. He holds ~8.84 lakh (7.87%) equity shares in Nimbus (India) Limited and ~6.8 lakh equity shares (3.52%) in the Company.
Key terms of the facility
- Amount: up to Rs. 60 crore, to be drawn in tranches
- Interest: 12% per annum
- Tenure: 2 years
- Nature: unsecured loan/credit facility
- Purpose: business purpose
Related party angle
The update states the transaction falls within the purview of related party transactions under Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is being carried out at arm's length. Shareholders' approval for the transaction was obtained by way of a Special Resolution at the 33rd AGM held on 29.09.2026.
How a retail investor can read this
- The company is putting in place a borrowing arrangement from a promoter group NBFC rather than from a bank or the market. The cost of this money is fixed at 12% per annum for 2 years.
- Because the lender is a related party, the disclosure spells out the cross-holdings between the two companies and the common directorship, so you can see the relationship clearly.
- The facility is unsecured, meaning the lender is not taking security over the company's assets for this loan.
- The amount is a ceiling: the company can draw up to Rs. 60 crore in tranches, so how much is actually used and when will be known from later disclosures.
- Interest cost on the drawn amount will flow through the company's financials; the update itself does not state any drawdown yet.
Also from Nimbus Projects
Anand Kumar appointed Non-Executive Chairman of the Board
5 Nov 2026
Chairman steps down; Bipin Agarwal continues as Managing Director
5 Nov 2026
Nimbus Projects investor presentation: FY26 revenue up 28%, Q2FY27 balance sheet and FY29 projections
5 Nov 2026
More numbers
- Unsecured loan/credit facility amountRs. 60,00,00,000/-
- Interest rate on the facility12% per annum
- Tenure of the facility2 years
- Company's holding in Nimbus (India) Limited47,90,000 equity shares
- Company's stake in Nimbus (India) Limited42.69%
- Nimbus (India) Limited's holding in the Company18,22,381 equity shares
- Nimbus (India) Limited's stake in the Company9.43%
- Managing Director's holding in Nimbus (India) Limited883600
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