GNG Electronics Enhances Credit Limits with Axis Bank and ICICI Bank

GNG Electronics Limited has entered into agreements with Axis Bank Limited and ICICI Bank Limited to enhance its working capital credit facilities. These agreements aim to strengthen the company’s liquidity position and support its operational requirements.

The company received the executed addendum related to Axis Bank on March 23, 2026, while the agreement with ICICI Bank was also received on the same date.

Agreement with Axis Bank

Under the addendum dated February 23, 2026, the company has enhanced its existing credit facility with Axis Bank from ₹44 crore to ₹65 crore. The facility will be used to meet the working capital requirements of the company.

The working capital loan has an outstanding amount of approximately ₹36.66 crore. The agreement does not include any provisions related to appointing directors, share subscription rights, or restrictions on changes to the capital structure.

As part of the security arrangement, the facility is backed by a pari passu charge through the extension of hypothecation on the company’s entire current assets, both present and future.

Agreement with ICICI Bank

In addition to the Axis Bank facility, the company has also signed a Supplemental and Amendatory Agreement dated March 10, 2026 with ICICI Bank. Under this agreement, the overall credit limits have been increased from ₹400 million to ₹720 million.

The facility is intended to support the company’s working capital requirements. The outstanding amount under this facility currently stands at ₹380 million.

Security for the facility includes a pari passu charge on the company’s current assets and receivables, both present and future, along with an exclusive charge on fixed deposits maintained by the company.

Regulatory and Transaction Details

The company confirmed that neither Axis Bank nor ICICI Bank has any shareholding in GNG Electronics. The agreements are not related-party transactions, and the banks are not connected with the promoter or promoter group of the company.

GNG Electronics Share Price Today

On March 25, 2026, GNG Electronics share price opened at ₹390.20. At 9:39 AM, the share price of GNG Electronics was trading at ₹407.10, up by 4.33% on the NSE.

Also Read: GNG Electronics Expands Working Capital Limit to ₹75 Crore with Kotak Mahindra Bank!

Conclusion

Overall, the enhancement of working capital limits with Axis Bank and ICICI Bank reflects GNG Electronics’ efforts to strengthen its financial flexibility and support its operational growth. The expanded credit facilities are expected to provide improved liquidity to manage day-to-day business activities and working capital needs effectively.

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