Anthem Biosciences Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
ANTHEM · price
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Anthem Biosciences has issued corporate guarantees totaling Rs. 49 Crores in favor of Citi Bank N.A. (Rs. 25 Crores) and Federal Bank Limited (Rs. 24 Crores) as security for working capital credit facilities availed by its wholly owned subsidiary, Neoanthem Lifesciences Private Limited. The funds will be used solely to meet the working capital needs of the subsidiary. The transaction is on an arm's length basis, and promoters or group companies have no direct interest in it. The guarantees will remain in force until the subsidiary fully repays the lenders.
There is no immediate financial impact on the parent company, but the guarantee creates a contingent liability of up to Rs. 49 Crores if the subsidiary fails to repay its lenders. For shareholders, this signals the parent is supporting its subsidiary's growth and operational funding needs.