Shanti Educational Initiatives Ltd — Important, 17-01-2026: Company Update

Shanti Educational Initiatives Limited has issued a Letter of Comfort to ICICI Bank Limited for its subsidiary, Uniformverse Private Limited. This relates to the subsidiary's credit facilities amounting to Rs. 4.99 Crore. The company assures the bank it will not dilute its beneficial ownership in the subsidiary without prior consent if the borrower's commitments are not met. It also provides assurance to indemnify ICICI Bank against any losses. The company clarifies this is a comfort letter and not a direct guarantee unless a separate deed is executed.