Pharmaids Pharmaceuticals Ltd Provides Corporate Guarantee for Subsidiary’s Loan Facility
Pharmaids Pharmaceuticals Ltd has extended a corporate guarantee in favor of Adita Bio Sys Private Limited, an unlisted material subsidiary, following the subsidiary's arrangement for a new loan facility.The company provided the guarantee to State Bank of India, SME Branch, to secure the loan facility under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0. The Corporate Guarantee Agreement was entered into on the intimation date and amounts to Rs. 55,00,000 (Rupees Fifty-Five Lakhs only).
The guarantee provided by Pharmaids Pharmaceuticals Ltd stems from a decision made during its Board Meeting held on May 29, 2026. The company had approved providing a Corporate Guarantee to any Banks or Financial Institutions for a new loan facility proposed by Adita, with an authorized limit not exceeding Rs. 75,00,000 (Rupees Seventy-Five Lakhs only).
Adita Bio Sys Private Limited is the party for whom the guarantee was given, and its relationship with Pharmaids Pharmaceuticals Ltd is that of a material subsidiary. The promoter group has confirmed that it holds no interest in this transaction.
The corporate guarantee provided by Pharmaids Pharmaceuticals Ltd is categorized as a contingent liability for the company. According to internal assessments, there is currently no impact of this specific guarantee on Pharmaids Pharmaceuticals Ltd.
Key details regarding the corporate guarantee are summarized below:
| Particulars | Details |
|---|---|
| Subsidiary Guaranteed | Adita Bio Sys Private Limited |
| Guarantee Amount | Rs. 55,00,000 |
| Authorized Loan Limit | Up to Rs. 75,00,000 |
| Financial Institution Benefiting | State Bank of India, SME Branch |
| Purpose | To secure a new loan facility under ECLGS 5.0 |
| Date of Approval (Board) | May 29, 2026 |
Stock Price Movement
Pharmaids Pharmaceuticals Ltd finished the trading day in the green, settling at ₹28.96 after showing a 1.54% rise on Friday. Throughout the session, the shares experienced considerable movement, trading between an intraday low of ₹27.51 and a high of ₹30.90.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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