Announced Thu, 16 Jul · 19:19 IST
Corporate guarantee of up to 370 Cr for wholly owned subsidiary loan
PRESTIGE · price
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Price reaction · full curve 14 horizons · vs prior close
+1.3%1-day move
₹1647.00
prior close
₹1641.70
base price
After-mkt
timing
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+0.0-0.2-0.2+0.3+1.3+3.7+1.3-0.9-2.9—————
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AI summary
Prestige Estates is issuing a corporate guarantee of up to Rs 370 crores to Axis Bank for a loan being availed by its wholly owned subsidiary, Prestige Alta Vista Properties LLP. The guarantee is on an arm's length basis with no promoter group interest. This creates a contingent liability for the company, though management states no current impact since the subsidiary is part of the consolidated group.
Likely market impact
Creates a contingent liability of up to 370 Cr; no immediate financial impact on the parent as the subsidiary is fully owned.