Announced Tue, 16 Jun · 17:10 IST
Board approves Rs 17.75 Cr guarantee for group co, land acquisition in Odisha
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Price
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Price reaction · full curve 14 horizons · vs prior close
+1.6%1-day move
₹23.00
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AI summary
RDB Infrastructure's board approved a Rs 17.75 Crore corporate guarantee in favour of group company RDB Real Estate Constructions to secure an Axis Bank loan. RDB Real Estate shares common promoters with the listed entity, and the guarantee creates a contingent liability for the company. The board also approved acquiring 1.56 acres of land in Jharsuguda, Odisha. Both transactions were carried out at arm's length.
Likely market impact
Guarantee adds contingent liability tied to a group company. Land acquisition may support future business; deal is related-party in nature.