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Popular Vehicles and Services Ltd has announced a board meeting to consider the financial results for the quarter and half-year. The company has extended a Rs.15 Cr corporate guarantee to HDFC Bank for inventory funding availed by its subsidiary, Prabal Motors Private Limited. It also continues guarantees of Rs.18.5 Cr and Rs.30 Cr to State Bank of India for dealer funding schemes to its wholly owned subsidiaries, Popular Autoworks Private Limited and Popular Mega Motors (India) Private Limited. These support subsidiary financing without immediate impact on the parent’s standalone books.
All announcements from Popular Vehicles and Services Limited