ACS Technologies Enhances Corporate Guarantee for Subsidiary by ₹2 Cr

ACS Technologies Limited's Board approved enhancement of its existing Corporate Guarantee from Rs. 2.50 crore to Rs. 4.50 crore in favor of State Bank of India for subsidiary Iotiq Innovations Private Limited.

Guarantee Enhancement Details

The additional guarantee of Rs. 2.00 crore (Rupees Two Crores Only) supports expanded credit facilities totaling Rs. 4,50,00,000 for the subsidiary. This follows the original Rs. 2,50,00,000 guarantee previously provided.

Transaction Nature and Impact

Iotiq Innovations Private Limited, as a wholly-owned subsidiary, receives standard parental support. No promoters, promoter group members, or directors hold interests beyond corporate affiliation. Transaction executed at arm's length basis.

The guarantee carries no immediate financial impact beyond consolidated financial statement disclosure.

Shares of ACS Technologies Limited was last trading in BSE at Rs. 40.16 as compared to the previous close of Rs. 40.82. The total number of shares traded during the day was 64553 in over 149 trades.

The stock hit an intraday high of Rs. 41.54 and intraday low of 40.01. The net turnover during the day was Rs. 2601241.00.

Source : Equity Bulls

Keywords

ACSTechnologies INE366C01021 ITEnabledServices CorporateGuarantee