Saatvik Green Energy Subsidiaries Issue Guarantees for ₹197 Cr Loans
Saatvik Green Energy Ltd announced that its wholly-owned subsidiaries, Saatvik Cleantech EPC Private Limited and Saatvik Solar Industries Private Limited, have approved the issuance of corporate guarantees. Saatvik EPC will provide a guarantee for ₹160 crores to Aseem Infrastructure Finance Limited on behalf of its subsidiary, Intelligent Hydel Solutions Private Limited, for a solar power project. This also involves pledging Saatvik EPC's 49% stake in Intelligent Hydel Solutions. Additionally, Saatvik Solar will issue a corporate guarantee of ₹37 crores to Axis Bank Limited on behalf of Saatvik Agro Processors Private Limited, a promoter group entity, for working capital facilities. These actions are part of facilitating significant financing for subsidiary and promoter group entities.
Key Highlights
- Subsidiaries issue corporate guarantees for ₹160 Cr and ₹37 Cr loans.
- Guarantees support solar project development and promoter group working capital.
- Equity stake in a subsidiary pledged as security for a ₹160 Cr loan.
- Transactions are conducted on an arm's length basis.
- Facilitates significant financing for group entities.
Price Impact
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