Reliance Industries Limited has today at around 03:00 p.m. executed a deed of guarantee in favour of State Bank of India (SBI) in consideration of SBI sanctioning a term loan of Rs. 1,750 crore to Alok Industries Limited (AIL), a joint venture of the Company, in accordance with facility agreements executed between AIL and SBI.
This is in addition to a guarantee already issued by the Company in favour of Axis Bank Limited vide deed of guarantee dated November 23, 2023, in consideration of Axis Bank sanctioning a term loan of Rs. 1,750 crore to AIL, in accordance with facility agreements executed between AIL and Axis Bank.
The aggregate maximum liability of the Company under the aforesaid deeds of guarantee is Rs. 3,500 crore plus agreed interest and other monies due and payable by AIL to SBI and Axis Bank. The guarantees issued by the Company will remain valid till the end of tenure of respective term loans.
The guarantees will not have any adverse impact on the Company.
The Company will charge guarantee commission on an arm's length basis on the aforesaid guarantees.
Shares of Reliance Industries Limited was last trading in BSE at Rs. 2457.60 as compared to the previous close of Rs. 2460.70. The total number of shares traded during the day was 2891485 in over 6703 trades.
The stock hit an intraday high of Rs. 2461.05 and intraday low of 2442.00. The net turnover during the day was Rs. 7114411520.00.