Puravankara Limited has issued a corporate guarantee amounting to Rs. 80,00,00,000 (Rupees Eighty Crores only). This guarantee is in support of its wholly-owned subsidiary, Purva Blue Agate Private Limited, for the issuance of Non-Convertible Debentures (NCDs). The NCDs, aggregating to the same amount, are in favour of Catalyst Trusteeship Limited. The company states this represents a contingent liability with no immediate impact.
Corporate Guarantee Issued for Subsidiary’s Debt
Puravankara Limited announced today that it has provided a significant corporate guarantee on behalf of its wholly-owned subsidiary, Purva Blue Agate Private Limited. The guarantee is for an aggregate amount of Rs. 80,00,00,000/- (Rupees Eighty Crores only).
Details of the NCD Issuance
This corporate guarantee supports the issuance of Non-Convertible Debentures (NCDs) by Purva Blue Agate Private Limited. The NCDs are in favour of Catalyst Trusteeship Limited. The subsidiary has issued 800 Senior, Secured, Unrated, Unlisted, Redeemable Non-Convertible Debentures, each with a face value of ₹10,00,000 (Rupees Ten Lakhs only), totalling the guaranteed amount.
Impact on Puravankara Limited
The company has disclosed that the corporate guarantee provided constitutes a contingent liability for Puravankara Limited. As the guarantee is for its wholly-owned subsidiary, which is part of the consolidated group, there is currently no immediate impact of this guarantee on the listed entity’s financials or operations.
Source: BSE
