PVP Ventures Limited updates on corporate guarantee

PVP Ventures Limited had given a corporate guarantee to one of its step-down subsidiaries, PVP Capital Limited ("PCL"). PCL had entered in to a onetime settlement ("OTS") with Canara Bank for a settlement amount of INR 95 Crores on March 15, 2022.

The reason for opting for OTS to reduce the debt liability of PCL. PCL had to pay INR 9 crores upfront and balance INR 86 crores by September 14, 2022. PCL had already remitted INR 9 crores and today (June 30, 2022) it has made the balance payment to Canara Bank.

Shares of PVP Ventures Limited was last trading in BSE at Rs. 5.43 as compared to the previous close of Rs. 5.18. The total number of shares traded during the day was 10897 in over 15 trades.

The stock hit an intraday high of Rs. 5.43 and intraday low of 5.43. The net turnover during the day was Rs. 59170.00.

Source : Equity Bulls

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