Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended - Issuance of Corporate Guarantee
BELRISE · price
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Belrise Industries has issued a corporate guarantee of GBP 1,38,60,000 (approximately £13.86 million) to ICICI Bank UK PLC. The guarantee serves as security for a term loan facility sanctioned to Belrise UK Holdings Limited, which is a step-down wholly owned subsidiary of the company. This represents a contingent liability for Belrise Industries, meaning the parent company could be obligated to pay if the subsidiary defaults on its loan. The company has clarified that there is no immediate impact on its financials and that the transaction does not involve any promoter or group company interest.
This increases the company's off-balance sheet exposure to its UK subsidiary's debt obligations. While no immediate financial impact is stated, shareholders face potential liability if the subsidiary defaults on its loan. The guarantee also signals the company's commitment to supporting its overseas operations.