Comments
Optiemus Infracom Ltd has approved a Letter of Comfort/Guarantee for its wholly-owned subsidiary, GDN Enterprises Pvt Ltd. The Operations and Administration Committee of Optiemus Infracom’s Board of Directors made this decision today to secure a credit facility of ₹25 crore from ICICI Bank for GDN Enterprises.
The shares of Optiemus Infracom were trading at ₹660.70, up by ₹7.35 or 1.12 per cent on the NSE today at 2.12 pm.
The guarantee, provided on an arm’s length basis, will be treated as a contingent liability for Optiemus Infracom on a standalone basis but will have no impact on consolidated accounts. Optiemus Infracom confirmed that no promoter or group companies have any interest in this transaction.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.