Announced Wed, 1 Jul · 17:52 IST
Corporate guarantee for subsidiary reduced from ₹70 Cr to ₹50 Cr
Credit & Debt View source PDF
MMWL · price
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Price reaction · full curve 14 horizons · vs prior close
+2.7%1-day move
₹13.13
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+2.7+1.8+0.6+0.2+1.0+0.8+8.1———
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AI summary
Media Matrix Worldwide has reduced its corporate guarantee for subsidiary nexG Devices from ₹70 Cr to ₹50 Cr in favour of Yes Bank. nexG, a 56.78% owned subsidiary, uses the facility for fund and non-fund-based needs. The lower guarantee cuts the parent's contingent liability exposure by ₹20 Cr. Deal done at arm's length.
Likely market impact
Guarantee cut by ₹20 Cr lowers contingent liability risk for parent company and is mildly positive for shareholders.