Media Matrix Subsidiary's Guarantee Reduced to ₹50 Cr

Media Matrix Worldwide Ltd has executed a Supplemental and Amendatory Deed of Guarantee, reducing the corporate guarantee for its subsidiary, nexG Devices Private Limited, from ₹70 Crores to ₹50 Crores. This guarantee secures fund-based and non-fund-based facilities availed by nexG, a distribution and logistics house with a PAN-India footprint. The company holds a 56.78% stake in nexG. The reduction in guarantee amount will be disclosed as a contingent liability in Media Matrix's financial statements. The transaction is conducted on an arm's length basis.