Isgec Heavy Engineering Limited has informed the Exchange about issuance of Guarantees.
ISGEC · price
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The Board of Directors of Isgec Heavy Engineering Limited has approved the issuance of guarantees, including counter guarantees, standby letters of credit (SBLCs), and bonds up to USD 1.1957 million (approximately Rs. 11.23 crores). The guarantees are being issued in favour of bankers of the wholly owned subsidiary, Isgec Eswatini (Proprietary) Limited in Eswatini. These arrangements will enable the subsidiary's bankers to issue performance bank guarantees and other bonds to authorities and customers for execution of existing orders. The subsidiary is 100% owned by Isgec Heavy Engineering, and no promoter or promoter group has any interest in this transaction.
This is a routine corporate action providing financial support to a wholly owned subsidiary for operational needs. The amount is relatively modest at Rs. 11.23 crores and carries no immediate financial risk to shareholders, as it supports existing subsidiary operations.