Puravankara gives Rs 25 Cr guarantee for subsidiary's Axis Bank loan

New Credit FacilityCredit & Debt View source PDF

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AI summary

Puravankara Limited has provided an additional corporate guarantee of Rs 25 crore to Axis Bank on behalf of its wholly owned subsidiary Starworth Infrastructure and Construction Limited. The guarantee is for enhancement of credit facilities for the subsidiary. This is a contingent liability for Puravankara but is part of the consolidated group, and the company states there is no immediate impact. Promoter group has no interest in the transaction.

Likely market impact

Contingent liability for parent; boosts subsidiary borrowing capacity. Routine intra-group support, no direct impact on listed entity.