Growington Ventures India Limited has informed the stock exchanges that its Board of Directors approved an increase in the company’s financial assistance and credit facility arrangements with Union Bank.

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The decision was taken during the board meeting held on May 4, 2026, at the company’s registered office in Navi Mumbai.

New Bank Account to Be Opened with Union Bank

As part of the approved resolutions, the board has approved:

Opening of a new bank account with Union Bank

The move appears to be linked with the company’s revised financing and working capital arrangements.

Banking partnerships and expanded credit facilities are important for companies to:

• Support operational activities
• Improve liquidity management
• Strengthen working capital
• Fund business expansion

OCC Limit Increased to ₹15 Crore

The company also approved obtaining and availing:

Financial assistance and credit facilities up to ₹15 crore

According to the disclosure, the company’s:

Over Cash Credit (OCC) limit

has been increased from:

₹8.50 crore to ₹15 crore

This represents a significant enhancement in the company’s borrowing and operational funding capacity.

Union Bank Takes Over Existing ICICI Bank Loan

Growington Ventures further informed that:

Union Bank has taken over the existing loan facility of ₹8.50 crore from ICICI Bank

Following the takeover, the OCC limit has now been revised upward to:

₹15 crore

The arrangement has been approved based on terms and conditions sanctioned by the Board of Directors.

Loan takeovers and refinancing arrangements are commonly used by companies to:

• Obtain better banking terms
• Improve interest cost structures
• Increase credit availability
• Consolidate banking relationships

Importance of Working Capital Facilities

Working capital financing plays an important role in supporting day-to-day business operations.

Enhanced OCC limits help companies manage:

• Inventory purchases
• Vendor payments
• Operational expenses
• Cash flow requirements
• Expansion activities

An increased banking facility may provide Growington Ventures with greater financial flexibility for ongoing and future business operations.

Board Meeting Details

The company stated that the Board Meeting:

• Commenced at 2:30 PM
• Concluded at 2:55 PM

The meeting was held at the company’s registered office located at:

Shiv Chamber, CBD Belapur, Navi Mumbai

Market Significance of the Development

The enhancement of the credit facility is viewed as a positive operational development because it:

• Improves liquidity support
• Expands borrowing capacity
• Strengthens banking relationships
• Enhances working capital management

Investors generally monitor such developments closely as they can impact:

• Business expansion capability
• Financial stability
• Operational efficiency
• Future growth plans

About Growington Ventures India Limited

Growington Ventures India Limited is a listed company that regularly discloses operational and financial updates under SEBI compliance requirements.

The latest banking and credit facility enhancement indicates the company’s focus on strengthening its financial structure and operational funding support.

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