Announced Fri, 26 Jun · 19:22 IST
Greenply gives Rs 130 cr corporate guarantee for subsidiary credit facility
GREENPLY · price
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Price reaction · full curve 14 horizons · vs prior close
-2.3%1-day move
₹304.00
prior close
₹305.59
base price
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AI summary
Greenply Industries board approved a corporate guarantee of up to Rs 130 crore in favour of Federal Bank for a Capex Letter of Credit to be availed by its wholly owned subsidiary Greenply Speciality Panels (GSPPL). The 12 month facility will fund machinery purchases to expand the subsidiary's MDF plant manufacturing capacity. Since GSPPL is consolidated, there is no direct P&L impact on the parent. Board also reconstituted its Risk Management Committee.
Likely market impact
Parent backs Rs 130 cr capex loan for subsidiary MDF expansion. No direct P&L hit since subsidiary is consolidated; shown as contingent liability.