Sayaji Hotels Ltd Grants Corporate Guarantee of Rs 50 Crore in Favor of Axis Bank for VICON Imperial Private Limited
Sayaji Hotels Ltd has approved the issuance of a corporate guarantee amounting to Rs 50,00,00,000/- (Rupees Fifty Crores Only). This guarantee is provided in favor of Axis Bank Limited and pertains to a loan facility sought by VICON Imperial (I) Private Limited.The commitment from Sayaji Hotels Ltd underscores its backing for the subsidiary’s financing needs. The corporate guarantee covers the term loan taken by VICON Imperial (I) Private Limited.
Details regarding this transaction, including the relationship between the entities and potential impact, are as follows:
| PARTICULARS | DETAILS |
|---|---|
| Party for which guarantee was given | VICON Imperial (I) Private Limited |
| Nature of Interest in Transaction | VICON Imperial (I) Private Limited is a Group Company of Sayaji Group, holding 51% shareholding of the "Company." The transaction has been conducted on an arm's length basis. |
| Guarantee Details and Amount | The Company will provide the Corporate Guarantee for Rs 50,00,00,000/- in favor of Axis Bank Limited against the loan taken by VICON Imperial (I) Private Limited. |
| Impact on Listed Entity | The guarantee constitutes a contingent liability for Sayaji Hotels Ltd to the extent of the facilities availed by the borrower. Presently, there is no impact on the Company. |
The corporate guarantee facility is set up to secure the term loan being availed by VICON Imperial (I) Private Limited from Axis Bank Limited.
SAYAJIHOTL Stock Price Movement
Shares of Sayaji Hotels Limited climbed on Thursday, finishing at ₹308.00 after gaining 3.36%. The equity saw a traded volume of 310 shares during the session.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.