Announced Wed, 17 Jun · 18:59 IST
Abans Financial Services gives Rs 75 Cr corporate guarantee for subsidiary
AFSL · price
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Price reaction · full curve 14 horizons · vs prior close
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₹201.01
prior close
₹202.00
base price
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AI summary
Abans Financial Services board approved a corporate guarantee of up to Rs 75 crore in favour of ICICI Bank on behalf of its step-down subsidiary Abans Broking Services. The guarantee covers working capital facilities the subsidiary will avail from the bank. The transaction is at arm's length and will be recorded as a contingent liability in the company's books.
Likely market impact
Creates a contingent liability of up to Rs 75 crore, exposing Abans Financial Services to subsidiary debt repayment risk.