HFCL Ltd Provides Corporate Guarantee of Rs. 30 Crore to Axis Finance for HTL Subsidiary

HFCL Ltd has given a Corporate Guarantee in favor of Axis Finance Limited to secure a rupee term loan facility of up to Rs. 30 Crore for its subsidiary HTL. HTL is engaged in the manufacturing of Optical Fiber Cables and providing passive connectivity solutions, among other activities. The guarantee is given at arm's length basis and will be disclosed as contingent liabilities in the financial statements of HFCL Ltd. HFCL Ltd holds 74% of the paid-up share capital of HTL, while the remaining 26% is owned by the Government of India.