Announced Sat, 4 Jul · 15:56 IST
Vandan Foods extends corporate guarantee for Pharmearth credit facility
Credit & Debt View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+8.5%1-day move
₹23.05
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+8.5+10.8+10.6+15.1+15.0+17.1+0.0———
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AI summary
Vandan Foods is extending a corporate guarantee of up to INR 17.85 crore for credit facilities availed by Pharmearth Private Limited with Bank of India. The guarantee was enhanced or revised based on Bank of India sanction letter. Two directors of Pharmearth hold a minor 0.84 percent stake in Vandan but Pharmearth is not a related party or part of the promoter group. The transaction is at arm's length.
Likely market impact
Contingent liability of INR 17.85 crore for a non-related third party. No immediate financial impact but shareholders exposed if Pharmearth defaults.