Pursuant to the provisions of the Listing Regulations, we wish to inform you that the Company (through State Bank of India) has provided Standby Letter of Credit ( SBLC ) of INR 3.75 crores (equivalent to NPR 6 crores) in respect of Term Loan in favour of Everest Bank Limited (Lead Bank of the Consortium of Nepalese Banks) on behalf of Kajaria Ramesh Tiles Limited, Nepal, a Joint Venture Company.
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Kajaria Ceramics, through State Bank of India, has provided a Standby Letter of Credit (SBLC) of INR 3.75 crores (equivalent to NPR 6 crores) in favour of Everest Bank Limited, the lead bank of a consortium of Nepalese banks. This SBLC supports a term loan being availed by Kajaria Ramesh Tiles Limited, Nepal, which is the company's joint venture. The transaction is done in compliance with SEBI Listing Regulations.
This is a relatively small credit support arrangement (about 0.05% of the company's typical annual scale) extended to back its Nepal JV's borrowing capacity, indicating continued financial backing for the joint venture without significant impact on the standalone company's financials.