Popular Vehicles and Services Limited — Others, 27-12-2024: Giving guarantees/indemnity/ becoming a surety for third party

Popular Vehicles and Services Ltd has announced a board meeting to discuss extending corporate guarantees to its wholly-owned subsidiaries. The company will provide a guarantee of up to ₹30 crore for Popular Mega Motors (India) Pvt Ltd's channel financing facility with Tata Motors Finance Solutions, and ₹5 crore for Kuttukaran Cars Pvt Ltd's inventory funding from Axis Bank. This move strengthens support for its subsidiaries, ensuring continued operational financing. Investors might view this as a positive outlook, as it demonstrates the company’s commitment to its subsidiaries and potential growth opportunities.