Gmr Power And Urban Infra Limited has informed the Exchange about Giving guarantees/indemnity/ becoming a surety for third party
GMRP&UI · price
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GMR Power and Urban Infra Limited has extended a corporate guarantee of Rs. 240 crore in favour of IDBI Bank Limited. The guarantee secures working capital facilities of Rs. 80 crore each for three step-down subsidiaries: GMR Kashi Smart Meters Ltd, GMR Triveni Smart Meters Ltd, and GMR Agra Smart Meters Ltd. The guarantee will remain in force until the project commissioning date. The company states this is a contingent liability with no immediate impact, and the transaction is conducted at arm's length. Promoter group interest is limited to their shareholding in the subsidiaries.
This is a routine intra-group financial support arrangement. The guarantee creates contingent liability exposure but no immediate impact on the parent company's financials. Shareholders should monitor these subsidiary performance metrics as ultimate repayment responsibility could fall on GMR Power if subsidiaries default.