Loan & Debt14 May 2026, 06:01 pm
GMR Power Infra Provides ₹240 Cr Corporate Guarantee to IDBI
AI Summary
GMR Power and Urban Infra Ltd has provided a corporate guarantee of ₹240 Crore to IDBI Bank Limited to secure working capital facilities for its step-down subsidiaries: GMR Kashi Smart Meters Limited, GMR Triveni Smart Meters Limited, and GMR Agra Smart Meters Limited. Each subsidiary has been sanctioned working capital facilities up to ₹80 Crore. The guarantee remains in force until the commissioning of the projects and is considered a contingent liability for the company.
Key Highlights
- GMR Power Infra guarantees ₹240 Cr for subsidiaries' working capital.
- IDBI Bank provides facilities to GMR Kashi, Triveni, and Agra Smart Meters.
- Guarantee is valid until project commissioning.
- The corporate guarantee is a contingent liability for GMR Power Infra.
- Transaction is at arm's length; promoter group interest limited to shareholding.