Ventive Hospitality subsidiary gets ₹200 Cr loan facility

Ventive Hospitality Ltd announced that its Board of Directors has approved the issuance of a Letter of Comfort in favor of ICICI Bank Limited. This is in connection with a Rupee Term Loan facility of up to Rs. 200 crores proposed to be availed by KBJ Hotel & Restaurants Private Limited, a wholly owned subsidiary of the Company. The Board also rescinded its earlier approval for a shortfall undertaking in favor of HSBC Bank for a similar loan facility to the subsidiary, as that arrangement is no longer being pursued. The issuance of the Letter of Comfort is not expected to have an immediate impact on the listed entity.