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.