The Investment Trust of India Limited has announced a significant move, extending a corporate guarantee to HDFC Bank for a Rs 400 crore facility availed by its wholly owned subsidiary, Antique Stock Broking Limited. The guarantee supports collateral requirements with NSE Clearing Limited.
The Investment Trust of India Limited (ITI) disclosed today that its subsidiary, Antique Stock Broking Limited, will avail a Rs 400 crore bank guarantee facility from HDFC Bank. ITI has extended a corporate guarantee to facilitate this arrangement, ensuring compliance with SEBI Listing Regulations.
Corporate Guarantee Announcement
ITI confirmed that the guarantee is being issued to support Antique Stock Broking Limited’s collateral and margin requirements with NSE Clearing Limited. The transaction is conducted at arm’s length and is part of the company’s ordinary course of business.
Impact On The Company
The corporate guarantee is provided on behalf of ITI’s wholly owned subsidiary, forming part of the consolidated group. At present, ITI stated that the guarantee will have no material impact on the company beyond disclosure in its financial statements.
Key Highlights
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Antique Stock Broking Limited avails Rs 400 crore facility from HDFC Bank
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ITI issues corporate guarantee to support collateral with NSE Clearing Limited
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Transaction conducted at arm’s length, ordinary course of business
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No immediate financial impact on ITI beyond disclosure obligations
Sources: Company Disclosure to the Stock Exchanges