Nimbus Projects secures ₹40 cr ICICI Bank loan at 10.10%
The 36-month term loan, roughly 11% of market cap, refinances existing debt and funds projects. Secured by land and receivables, it signals institutional confidence in the nano-cap developer.
— 2 earlier stories on Nimbus Projects Ltd. →What's new
- Nimbus Projects obtained a ₹40 crore term loan from ICICI Bank at 10.10% for 36 months.
- Proceeds will refinance existing borrowings and fund project costs.
- Loan secured by a land parcel, unsold inventory, future receivables, and escrow accounts.
Why this matters
For a nano-cap real estate developer, a ₹40 crore credit line from ICICI Bank is a vote of confidence. The refinancing element tempers the net new capital, but the facility improves debt maturity profile and reduces reliance on costlier borrowings.
What we're watching
- Whether the refinancing lowers overall interest costs for existing projects.
- Progress of ongoing developments funded partly by this loan.
- Any further large-ticket funding or pre-sales traction to support repayment.
The full read
Nimbus Projects has secured a ₹40 crore term loan from ICICI Bank, about 11% of its ₹367 crore market cap. The 36-month facility, priced at 10.10%, is secured by a Greater Noida land parcel, unsold inventory, and future receivables. Proceeds will refinance existing project debt and fund ongoing developments. That is material for a nano-cap. Getting a prime lender like ICICI on board is a vote of confidence. But the refinancing element tempers the net new capital. It is more a balance-sheet replay than a growth infusion. The open question is whether this loan reduces interest costs and accelerates project delivery.
Questions answered
- What is the interest rate and tenure of the ICICI Bank loan?
- The loan carries an interest rate of 10.10% per annum and has a tenure of 36 months, repayable as per the facility terms.
- How is the loan secured?
- It is secured by a first pari passu charge on a Greater Noida land parcel, unsold inventory, future receivables, and escrow accounts of the company.
- Who is the guarantor for this loan?
- The company's partnership firm, IITL-Nimbus, The Express Park View, will act as guarantor.
- How will the loan proceeds be used?
- Part of the proceeds will repay borrowings from other lenders taken for ongoing projects, and the remainder will be directed toward project costs.
- Why is this loan significant for Nimbus Projects?
- At about 11% of its market cap, the loan is material. It provides institutional validation and improves the debt mix, though the refinancing component limits the incremental capital.
Nimbus Projects Ltd.
Latest quarter · Mar 2026
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Story so far
All notes on NIMBSPROJ →- 27 Jul 2026 · 5:37 PM IST Nimbus Projects secures ₹40 cr ICICI Bank loan at 10.10%
- 19d ago Nimbus Projects' Q1 pre-sales jump 134% to ₹157 cr
- 66d ago Nimbus Projects signs MoU for a 25-acre Vrindavan development