Disclosure Pursuant to Regulation 30 Of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 For providing additional Corporate Guarantee to MITCON CREDENTIA TRUSTEESHIP SERVICES LIMITED
HUBTOWN · price
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Hubtown Limited is providing an additional Corporate Guarantee of Rs. 26 Crores to MITCON Credentia Trusteeship Services Limited, on top of the Rs. 96 Crores guarantee already given, bringing the total guarantee to Rs. 122 Crores. This guarantee is to secure Non-Convertible Debentures (NCDs) being issued by Twenty Five Estates Realty Private Limited, which is a wholly owned subsidiary of Hubtown. The total contingent liability on Hubtown's books from this arrangement will be up to Rs. 122 Crores. The terms are governed by the Deed of Guarantee and Debenture Trust Deed.
Shareholders should note that this adds Rs. 26 Crores of contingent liability to Hubtown's books, taking the total to Rs. 122 Crores for its subsidiary's NCD issuance. While the subsidiary is a wholly owned entity, any default by it would directly impact Hubtown, increasing overall risk exposure.