Shalby Ltd Issues Standby Letter of Credit of up to USD 13.27 Million for its US Subsidiary

Shalby Ltd, a renowned name in the healthcare sector, has issued a Standby Letter of Credit (SBLC) of up to USD 13.27 Million for its step-down subsidiary, Shalby Advanced Technologies, Inc., USA (SAT Inc.). The SBLC has been availed from IndusInd Bank Limited. This move is expected to aid SAT Inc. in obtaining credit facilities. The Company has clarified that this decision is in its overall interest and does not foresee any significant financial or operational impact.