Media Matrix Worldwide Guarantees ₹25 Cr for Subsidiary nexG Devices

Media Matrix Worldwide Ltd has executed a Corporate Guarantee for ₹25 Crores in favor of Jio Credit Limited. This guarantee is to secure fund-based credit facilities for its subsidiary, nexG Devices Private Limited, in which Media Matrix holds a 56.78% stake. nexG Devices is described as an established distribution and logistics house with a pan-India presence, specializing in mobility and IT products. The guarantee is considered an arm's length transaction. The impact on Media Matrix Worldwide will be the disclosure of this guarantee as a contingent liability in its financial statements.