Panacea Biotec Limited — Others, 12-11-2024: Giving guarantees/indemnity/ becoming a surety for third party

Panacea Biotec has announced a board meeting regarding two key decisions at its unlisted subsidiary, Panacea Biotec Pharma Limited (PBPL). Mr. Rajesh Jain has been appointed as a Non-executive Independent Director for a term of five years, subject to shareholder approval. Additionally, PBPL will provide a corporate guarantee for Panacea Biotec Limited’s planned external commercial borrowing of up to US$ 20 million (approximately ₹168.16 crore) from the U.S. International Development Finance Corporation, aimed at expanding production capacity for the EasySix® vaccine. This move is expected to enhance operational capacity and financial health, offering a positive outlook as the company seeks to strengthen its market position.