Optiemus Infracom Ltd Enhances Corporate Guarantee to CSB Bank for Subsidiary's Credit Facility
Optiemus Infracom Ltd has approved an enhancement of the corporate guarantee provided to CSB Bank Limited, covering a credit facility availed by its Wholly Owned Subsidiary, Optiemus Electronics Limited (OEL). The Operations and Administration Committee of the Board of Directors sanctioned this increase from Rs 35.50 Crores to Rs 60 Crores.The enhancement provides security for the total credit facility amounting to Rs 60 Crores that OEL has availed or is set to avail through CSB Bank Limited.
This transaction, which secures the financing of Optiemus Electronics Limited (OEL), a Wholly Owned Subsidiary of Optiemus Infracom Ltd, was executed on an arm's length basis and did not involve any interest from the Promoter or the Promoter Group in this specific guarantee.
Key details regarding the corporate guarantee enhancement are provided below:
| Particulars | Details |
|---|---|
| Subsidiary | Optiemus Electronics Limited (OEL) |
| Guarantor | Optiemus Infracom Ltd |
| Beneficiary Bank | CSB Bank Limited |
| Original Guarantee Amount | Rs 35.50 Crores |
| Enhanced Guarantee Amount | Rs 60 Crores |
| Total Credit Facility Secured | Rs 60 Crores |
The Corporate Guarantee is intended to secure the credit facility(ies) availed by OEL from CSB Bank Limited. The Company has classified this enhanced guarantee as a contingent liability.
OPTIEMUS Stock Price Movement
Shares of Optiemus Infracom Limited today slipped by 0.69% to close at ₹421.9, marking a slight decline for the equity. The stock saw brisk activity during the session, recording a traded volume of 132,917 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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