Samhi Hotels Limited to Issue Deed of Guarantee for Subsidiary's Loan Facility
Samhi Hotels Limited announced that it will execute a Deed of Guarantee and Undertaking in favor of Citibank N.A., India. This guarantee relates to a loan facility being availed or to be availed by Samhi Hotels (Ahmedabad) Private Limited, the company's wholly owned subsidiary.The Deed of Guarantee and Undertaking aims to secure the loan facility for the subsidiary. The execution of these documents involves the Company providing certain assurances regarding the subsidiary's obligations and guaranteeing the repayment of all amounts due under the facilities.
The facility, referenced as 'Facilities,' is set up through a rupee facilities agreement entered into between Samhi Hotels Limited, the lenders, and Vistra ITCL (India) Limited, acting as the Security Trustee.
The guarantee covers a loan facility amount of up to INR 4,53,10,00,000/-.
Key details regarding the guarantee and undertaking are as follows:
| Guarantee Beneficiary | Purpose of Guarantee | Guarantee Amount | Company Interest | Impact on Samhi Hotels Limited |
|---|---|---|---|---|
| SAMHI Hotels (Ahmedabad) Private Limited | To secure loan facility(ies) | Up to INR 4,53,10,00,000/- | The Company holds 100% of the paid-up share capital. The guarantee is on an arm's length basis. | There is no impact of this guarantee and undertaking on the Company. |
Samhi Hotels Limited stated that the Company's involvement in the transaction is on an arm's length basis.
SAMHI Stock Price Movement
Today, Samhi Hotels Limited shares edged higher to close at ₹146.64, recording a gain of 1.47% in afternoon trading. The stock saw robust investor interest throughout the day, supported by a total traded volume of 573,403 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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