Giving guarantees/indemnity/ becoming a surety for third party

Greenply Industries has approved issuing a corporate guarantee of up to INR 200 Cr to IDBI Bank for a term loan availed by its wholly-owned subsidiary, Greenply Speciality Panels, to expand its MDF plant manufacturing capacity.

Additionally, the company signed a binding Head of Terms with Samet B.V. and Greenply Samet Private Limited regarding a capital infusion.

This will increase Samet's voting interest from 50% to roughly 81.02% and dilute Greenply's voting interest from 50% to roughly 18.98%, causing the joint venture company to cease being an associate company of Greenply upon completion.