Announced Mon, 29 Jun · 18:36 IST
Corporate Guarantee of about Rs 347 Cr for subsidiary PM KUSUM projects
INA · price
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+1.3%1-day move
₹113.68
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₹113.50
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AI summary
Insolation Energy has approved corporate guarantees of about Rs 347.07 Crores for 22 step-down subsidiaries. The guarantees back a Rupee Term Loan from Aseem Infra Finance to fund 400 MW of PM KUSUM Component A solar projects in Rajasthan. Guarantees will remain valid for 12 months from the date of commercial operations or project stabilization. Transaction is at arm's length and will be recorded as a contingent liability with no immediate material impact on the listed company.
Likely market impact
Creates a Rs 347 Cr contingent liability but supports subsidiary growth in solar projects; no immediate material impact on the listed entity.