Announced Wed, 1 Jul · 17:39 IST
Prestige issues corporate guarantee for subsidiary loan up to Rs 450 Crore
PRESTIGE · price
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Price reaction · full curve 14 horizons · vs prior close
+2.5%1-day move
₹1629.00
prior close
₹1643.50
base price
After-mkt
timing
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AI summary
Prestige Estates Projects is issuing a corporate guarantee of up to Rs 450 crore to Bajaj Housing Finance Limited to secure a loan availed by its subsidiary, Prestige Projects Private Limited. The guarantee is a contingent liability for the parent company, provided on an arm's length basis. No promoter group interest is involved. The company states there is no immediate impact on itself at this point.
Likely market impact
Contingent liability of up to Rs 450 crore added for the parent. No immediate cash impact, but raises overall group debt exposure.