GNG Electronics secures Rs 72 crore credit boost from ICICI Bank
GNG Electronics Ltd has secured an expanded credit facility from ICICI Bank Limited. The company signed a supplemental agreement on 10th March 2026, increasing its borrowing limit. Shares responded positively, rising nearly 2% shortly after the announcement.
The deal raises GNG Electronics' credit facility from Rs 40 crore to Rs 72 crore. This additional funding will support the firm's working capital needs. As of the agreement, the outstanding loan stands at Rs 38 crore.
The terms include a charge on the company's current assets and receivables. ICICI Bank also holds an exclusive charge on fixed deposits. No equity stake or special rights were granted to the lender, and no related-party transactions are involved. Following the news, GNG Electronics' shares climbed 1.99% to Rs 381.60 on the NSE at 10:47 AM. A further surge came later, with the stock hitting a day's high of Rs 392.85 on 24th March 2026.
The expanded Rs 72 crore facility provides GNG Electronics with greater financial flexibility. The agreement, free of equity ties or special lender privileges, focuses solely on asset-backed security. Share prices reflected investor confidence in the days after the announcement.
