GNG Electronics Jumps 4.75% After Rs 72 Cr ICICI Bank Deal

Shares of GNG Electronics Ltd surged 4.75% to hit a day’s high of Rs 392.85 on 24th March after the company announced it had signed a supplemental and amendatory agreement with ICICI Bank Limited. The deal increases its credit facility from Rs 40 crore to Rs 72 crore. This is aimed at supporting its working capital requirements.

The agreement was signed on 10th March, 2026, and officially received on 23rd March, 2026, as per the company’s stock exchange filing.

The total credit facility now stands at Rs 72 crore, mainly to support day-to-day working capital needs.

ICICI Bank Limited is the lender, while GNG Electronics Limited is the borrower under this arrangement.

The deal does not involve any equity stake or related-party transactions, meaning the bank has no ownership in the company.

No special rights have been granted to the bank, such as the appointment of directors or control over future share issuance.

As security, the bank has a charge on current assets and receivables. Moreover, there is an exclusive charge on fixed deposits, while the outstanding loan stands at Rs 38 crore.

At 10:47 AM, shares of GNG Electronics were trading 1.99% higher at Rs 381.60 on the NSE.

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