Optiemus Infracom doubles corporate guarantee for subsidiary to Rs 100 Cr
OPTIEMUS · price
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Optiemus Infracom's Board committee approved raising the corporate guarantee to IndusInd Bank from Rs 50.07 Cr to Rs 100 Cr for its wholly owned subsidiary Optiemus Electronics. The guarantee secures credit facilities availed or to be availed by the subsidiary. This will be recorded as a contingent liability for the parent company. The transaction is done on an arm's length basis with no promoter interest.
Raises contingent liability for the parent while supporting subsidiary's borrowing needs. Higher exposure if guarantee is ever invoked.