Puravankara Limited has extended a corporate guarantee to its wholly-owned subsidiary, Purva Oak Private Limited. The guarantee covers an amount of ₹440 crore, facilitating the issuance of Non-Convertible Debentures (NCDs). This move aims to support Purva Oak’s financial activities and growth initiatives. The provided guarantee is a contingent liability for Puravankara, consolidated within the company’s accounts, and is not expected to have any immediate impact on the company.
Corporate Guarantee Details
Puravankara Limited has provided a corporate guarantee to Purva Oak Private Limited, its wholly-owned subsidiary. This guarantee is intended to support the issuance of Non-Convertible Debentures (NCDs) by Purva Oak.
Financial Commitment
The corporate guarantee covers an aggregate amount of ₹440,00,00,000 (Rupees Four Hundred and Forty Crores only). The NCDs will be issued in favor of Catalyst Trusteeship Limited.
Subsidiary Support
The guarantee is a contingent liability for Puravankara and is provided on behalf of its wholly-owned subsidiary. Since the accounts of Purva Oak Private Limited are consolidated with those of Puravankara, there is no expected immediate impact on the company.
Source: BSE
