Belrise Industries Issues Corporate Guarantee for Subsidiary's Term Loan Facility
Belrise Industries Limited has issued a Corporate Guarantee in favor of ICICI Bank UK PLC. This guarantee serves as security for a term loan facility sanctioned to Belrise UK Holdings Limited, which is a step down wholly owned subsidiary of the Company.The Corporate Guarantee amounts to GBP 1,38,60,000, representing the Maximum Liability. The guarantee has been issued in the nature of financial support to the step down subsidiary and constitutes a contingent liability for the Company.
Details regarding the guarantee confirm that the Company issued the corporate guarantee to ICICI Bank UK PLC ('Lender') for GBP 1,38,60,000 (" Maximum Liability ") (' Corporate Guarantee ') as security for the term loan facility sanctioned to Belrise UK Holdings Limited ('Borrower ') a step down wholly owned subsidiary of the Company. The guarantee is structured as a continuing guarantee and remains valid until the period of the facility.
The transaction details indicate that the party for whom the guarantee was given is Belrise UK Holdings Limited, which is classified as a Step-down Wholly Owned Subsidiary of the Company. Furthermore, the records confirm that there is no interest from the promoter or promoter group in this transaction, nor is it related to any step down wholly owned subsidiary in terms of promoter interest.
From a financial impact perspective, the corporate guarantee represents a contingent liability for the Company. The details specified that there is no immediate impact on the financials of the Company arising from this guarantee.
BELRISE Stock Price Movement
Today, Belrise Industries Limited shares edged higher to close at ₹194.21, marking a 2.70% gain for the day. The stock traded on a volume of 5.57 million shares, fluctuating within a session range set between ₹192.01 and ₹197.Source:
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