Nimbus Projects Limited — Capital/Financing Update 2024

Aug 30, 2024

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NPL/BSE/2024-25/ 57

August 30, 2024

To, The Listing Department BSE Limited Phiroze Jeejeebhoy Tower Dalal Street Mumbai — 400001

Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Scrip Code: 511714 Scrip ID: NIMBSPROJ

Dear Sir,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Nimbus Projects Limited (“Company") has executed a Binding Term sheet (dated August 30, 2024) proposing to act as Co-Developer (CD) related to co-development of the Sunworld Arista Project located at Sector 168, Noida, Uttar Pradesh (the ’Project’) with M/s Sunworld Residency Private Limited (‘Promoter of the said project’).

The details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular dated July 13, 2023 (SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123) are given in the enclosed “Annexure-I”.

You are requested you to please take the above on record.

Thanking you Yours faithfully,

For Nimbus Projects Limited

Ritika Digitally signed by Ritika Aggarwal Date: 2024.08.30 Aggarwal 17:33:05 +05'30'

Ritika Aggarwal (Company Secretary & Compliance Officer) M.No. A69712

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“Annexure-I”

Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular dated July 13, 2023 SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123):

a)	Name of the entity(ies) with whom binding term sheet is executed	M/s Sunworld Residency Private Limited (The Promoters)
b)	Location of Project	Sunworld Arista Project located at Sector 168, Noida, Uttar Pradesh (the ’Project’)
c)	Project Details	Development of Phase II of the abovementioned project consisting of complete construction and development of 4 towers comprising 344 Flats.
c)	Scope of business operation of term sheet	Nimbus Projects Limited (“Company") to act as Co-Developer (CD) related to co- development of Phase-II of the Sunworld Arista Project located at Sector 168, Noida, Uttar Pradesh (the ’Project’) and M/s Sunworld Residency Private Limited.
d)	Significant terms and conditions of term sheet	1. The CD propose a consideration of Rs.476 crores and the said consideration is on the basis of representation made by the promoters to the CD vis-à-vis Phase II of the project, its inventory and so on. 2. The CD may introduce a financer/ lender to provide financing to the promoter for paying off the promoter liability towards bank OTS and land dues to the NOIDA Authority, totally approximately Rs.75 Crores. 3. The proposed consideration to be paid in duration of 18 months. 4. In lieu of the proposed consideration paid to the Promoter, the CD shall become entitled to the entire saleable area (10.45 lakhs sq. ft.) in the Phase II of the project.

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		5. The CD shall complete the development of the remaining/ unfinished portions of the Phase II of the project, including facilities, common areas, and the club, and subsequently sell these to prospective buyers. 6. All liabilities from Phase I of the Project will be borne solely by the Promoters. CD shall not bear any liability from Phase I of the Project. Nor will CD bear any liability towards any creditors.
e)	Domestic/ International	Domestic
f)	Details of consideration paid/ received in term sheet	CD shall provide a sum of Rs. 5.23 Crores to New Okhla Industrial Development Authority in the form of Demand Draft.
g)	Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length basis”	No
h)	Rational and Benefit expected	This collaboration aims in business expansion which shall leads to revenue generation & ultimately enhancing shareholders worth once the project is completed after three years.

You are requested you to please take the above on record.

Thanking you Yours faithfully,

For Nimbus Projects Limited

Digitally signed Ritika by Ritika Aggarwal Aggarwal Date: 2024.08.30 17:33:43 +05'30'

Ritika Aggarwal (Company Secretary & Compliance Officer) M.No. A69712

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