Senores Pharmaceuticals Limited has informed the Exchange regarding issuance of Corporate Guarantee for the additional credit facilities availed by Havix Group Inc. D/B/A Aavis Pharmaceuticals a material subsidiary of the Company from HDFC Bank Limited.
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Senores Pharmaceuticals has issued a corporate guarantee of up to USD 1.5 million (about ₹12.5 crore approx.) in favour of HDFC Bank Limited on behalf of its US-based material subsidiary, Havix Group Inc. (D/B/A Aavis Pharmaceuticals). This guarantee secures additional credit facilities being availed by the subsidiary and follows an earlier intimation dated July 10, 2025. The guarantee is valid till closure of the facilities, with a maximum tenure of 10 years, and the company states it is at arm's length. The promoters have interest to the extent of their directorship in Havix. There is no immediate financial impact on the parent company other than disclosure as a contingent liability in financial statements.
This is a contingent liability for Senores Pharma — if the US subsidiary defaults, the parent must honour the guarantee. For now, it supports growth funding at the subsidiary level, but it slightly increases the parent company's off-balance-sheet exposure in USD.