Board approves Rs 2,941 Cr corporate guarantee for subsidiary
VIKRAN · price
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Vikran Engineering board approved a corporate guarantee of up to Rs 2,941.19 crore for its wholly-owned subsidiary to help it raise credit facilities from banks and lenders for business operations and solar projects. The board also approved an additional promoter contribution of up to Rs 200 crore into the subsidiary, to be given in one or more tranches via equity, unsecured loans, NCDs, OCDs, quasi equity or other instruments, to meet promoter contribution requirements under project financing. The board also noted and approved the FY25-26 Cost Audit Report.
Parent takes on a contingent liability of up to Rs 2,941 crore; supports subsidiary's growth and solar project financing.