Subsidiary13 May 2026, 06:51 pm
Media Matrix Guarantees ₹25 Cr for nexG Devices
AI Summary
Media Matrix Worldwide Ltd. has provided a corporate guarantee of ₹25 Crore to IndusInd Bank Limited on behalf of its subsidiary, nexG Devices Private Limited. This guarantee secures fund-based and non-fund-based facilities availed by nexG. Media Matrix holds 56.78% of nexG's paid-up share capital. The corporate guarantee is at arm's length and will be disclosed as contingent liabilities in the company's financial statements.
Key Highlights
- Media Matrix provides ₹25 Cr corporate guarantee to IndusInd Bank for nexG Devices.
- Guarantee secures fund-based and non-fund-based facilities for subsidiary nexG.
- Media Matrix holds 56.78% stake in nexG Devices Private Limited.
- The guarantee is at arm's length and will be a contingent liability.
- nexG is a distribution & logistic house with a PAN - India footprint.
Price Impact
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