SIGNATUREGLOBAL (INDIA) LIMITED has announced that three of its wholly-owned subsidiaries – JMK Holdings Limited, Signature Infrabuild Limited, and Sternal Buildcon Limited – have jointly issued a Corporate Guarantee of ₹150 crore. Additionally, Forever Buildtech Limited, another subsidiary, has issued a ₹250 crore guarantee. These guarantees support term loan facilities availed by the company and its subsidiaries, securing existing credit lines totaling ₹398.3 crore, significantly bolstering the company’s financing structure.
SIGNATUREGLOBAL (INDIA) LIMITED Secures Major Financing Through Subsidiary Guarantees
SIGNATUREGLOBAL (INDIA) LIMITED has disclosed a series of corporate guarantees issued by its wholly-owned subsidiaries to support its financing activities. These guarantees are crucial for securing substantial term loan facilities, demonstrating a consolidated approach to financial operations across the group. The total value of these guarantees amounts to approximately ₹748.3 crore.
Key Guarantee Details:
- ₹150 Crore Guarantee: JMK Holdings Limited, Signature Infrabuild Limited, Sternal Buildcon Limited, and Forever Buildtech Limited have jointly provided a corporate guarantee of ₹150 crore. This facility is in favour of Vistra ITCL (India) Limited, acting as trustee for IndusInd Bank Limited, to secure a Rupee Term Loan facility availed by the parent company.
- ₹250 Crore Guarantee: JMK Holdings Limited, Signature Infrabuild Limited, and Sternal Buildcon Limited have collectively issued a corporate guarantee of ₹250 crore. This supports a Rupee Term Loan facility availed by Forever Buildtech Limited, another wholly-owned subsidiary.
- ₹398.3 Crore Existing Facilities: Forever Buildtech Limited has also issued a corporate guarantee to secure existing facilities, totaling ₹398.3 crore. These facilities were availed by the parent company, Signatureglobal Homes Limited, Signatureglobal Developers Limited, and Signatureglobal Business Park Limited, all wholly-owned subsidiaries.
These corporate guarantees are described as unconditional, absolute, irrevocable, and continuing in nature. They cover the repayment of all amounts due under the respective facility agreements. While these guarantees represent a contingent liability for the guarantor subsidiaries, the company states there is no direct impact on the listed entity itself.
Source: BSE
