Loan & Debt31 Jul 2026, 08:20 pm
Media Matrix extends ₹20 Cr Corporate Guarantee for subsidiary nexG
AI Summary
Media Matrix Worldwide Ltd has extended a Corporate Guarantee of ₹20 Crores in favor of SBICAP Trustee Company Limited. This guarantee secures fund-based credit facilities availed or to be availed by nexG Devices Private Limited, a 56.78% owned subsidiary, from State Bank of India. nexG is an established PAN-India distribution and logistics house specializing in mobility and IT products. The transaction is considered to be at arm's length, and the corporate guarantee will be disclosed as a contingent liability in Media Matrix Worldwide Ltd's financial statements.
Key Highlights
- Company extended ₹20 Cr corporate guarantee for subsidiary nexG.
- Guarantee secures credit facilities for nexG from State Bank of India.
- nexG is a 56.78% owned subsidiary, a distribution & logistics firm.
- The guarantee will be disclosed as a contingent liability.
- Transaction is considered to be at arm's length.
Price Impact
More from MMWL