Please find attached disclosure wrt Letter of Comfort issued to ICICI Bank Limited.
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Shanti Educational Initiatives Ltd has issued a Letter of Comfort to ICICI Bank Limited in favor of its subsidiary, Uniformverse Private Limited, on June 2, 2025. The subsidiary has availed credit facilities worth Rs. 45.09 Million from ICICI Bank. The Letter of Comfort affirms that Shanti Educational will not dilute its ownership in the subsidiary without ICICI's prior written consent in case of any default by the borrower. Importantly, the company clarifies this is not a corporate guarantee, indemnity, or surety, and does not create any financial obligation on the listed entity for loan repayment.
This is a routine disclosure for a subsidiary's borrowing and does not impose direct financial liability on Shanti Educational Initiatives. Shareholders should note the exposure is indirect and conditional, with no guarantee or surety involved. The development is neutral to mildly supportive, as it enables the subsidiary to secure funding for its operations.