Please find update on Corporate Guarantee issued by the Company as part of term loan documentation between NIIT (USA) Inc. and ICICI Bank, New York Branch.
NIITMTS · price
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NIIT Learning Systems has issued a corporate guarantee of up to USD 10.50 million (approximately ₹88 crore) to ICICI Bank's New York Branch. This guarantee backs a term loan of up to USD 10 million being availed by its wholly owned US subsidiary, NIIT (USA) Inc. The guarantee is valid for a period of up to 5 years and 90 days. This is a follow-up to the board's earlier approval disclosed on January 28, 2026. The move provides funding access to the company's US operations through a formal banking channel.
This indicates NIIT Learning Systems is supporting its US subsidiary's growth or working capital needs through external borrowing rather than equity infusion, which is a common approach for overseas expansion. Shareholders should note the contingent liability on the parent company's books, though the exposure is moderate relative to company size.