Puravankara Limited Provides Corporate Guarantee of Rs. 196 Crore for Subsidiary's NCD Issuance
Puravankara Limited has issued a Corporate Guarantee on behalf of its wholly owned subsidiary, Purvaland Private Limited. The guarantee is related to the issuance of Non-Convertible Debentures (NCDs) and is being provided in favor of Vistra ITCL (India) Limited.The Corporate Guarantee provided by Puravankara Limited is structured to cover the full amount of the NCDs. The total value of the guarantee stands at Rs. 196,00,00,000/- (Indian Rupees One Hundred and Ninety-Six Crore only).
According to the details of the guarantee, the key aspects of the transaction are as follows:
| Particulars | Details |
|---|---|
| Party Covered by Guarantee | Purvaland Private Limited (Wholly Owned Subsidiary of Puravankara Limited) |
| Nature of Guarantee | Corporate Guarantee on behalf of Purvaland Private Limited |
| Guarantee Amount | Rs. 196,00,00,000/- (Indian Rupees One Hundred and Ninety-Six Crore only) |
| Purpose | Issuance of Non-Convertible Debentures (NCDs) |
| Beneficiary | Vistra ITCL (India) Limited, acting as the Debenture trustee |
| Promoter Interest | Promoter, Promoter Group, and Group Companies do not have any interest in this transaction. Only Purvaland Private Limited is interested. |
The document further clarified the impact of the guarantee on the listed entity. Puravankara Limited stated that the Corporate Guarantee provided constitutes a contingent liability for the company. However, at the time of the guarantee, there was stated to be no direct impact of this specific guarantee on the Company.
PURVA Stock Price Movement
On Monday, shares of Puravankara Limited climbed 10.73%, settling at ₹215.99 by the market close. The stock saw significant investor interest, finishing the session on a substantial volume of 16.91 million shares.Source:
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