Announced Wed, 17 Jun · 18:55 IST
Abans Financial Services to give Rs 75 Crore corporate guarantee to ICICI Bank for subsidiary
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AI summary
Abans Financial Services Ltd will provide a corporate guarantee of up to Rs 75 Crore to ICICI Bank on behalf of its step-down subsidiary Abans Broking Services Pvt Ltd. The guarantee secures working capital facilities the subsidiary will avail from the bank. The Executive Committee approved this on June 17, 2026. The transaction is at arm's length and will appear as a contingent liability on the company's books.
Likely market impact
Parent takes on Rs 75 Crore contingent liability to back subsidiary's new working capital facility from ICICI Bank