XTGLOBAL secures ₹250m loan from ICICI Bank for expansion

XTGLOBAL Infotech Limited announced on August 31, 2025, the execution of a Rupee Term Loan agreement for up to ₹250.00 million with ICICI Bank Limited. This financing aims to facilitate the company's exit application and repayment of duty exemptions for its office facility in Madhurawada IT/ITES SEZ Visakhapatnam. The move is expected to enable the company to rent out unutilized surplus space, projecting a positive impact of approximately ₹5 crores per annum on its bottom line, in addition to supporting other infrastructure development needs.

The facility, sanctioned via a credit arrangement letter dated August 30, 2025, is within the borrowing limits approved under Section 180(1)(c) of the Companies Act, 2013. The company clarified that ICICI Bank Limited is not related to XTGLOBAL Infotech's promoter or promoter group, and the transaction does not fall under related party transactions.

At the time of execution, the total amount sanctioned was ₹250.00 million. Security for the loan will be created in favor of ICICI Bank as per sanction terms.