Hubtown provides corporate guarantees for subsidiary's debentures

Hubtown Limited has disclosed it has provided, and will further provide, corporate guarantees totaling INR 122 Crores to MITCON CREDENTIA TRUSTEESHIP SERVICES LIMITED. These guarantees are to secure the issuance of Non-Convertible Debentures by Twenty Five Estates Realty Private Limited, a wholly-owned subsidiary of Hubtown.

The initial corporate guarantee provided amounts to INR 96 Crores, and an additional guarantee of INR 26 Crores is in process, bringing the total to INR 122 Crores. This commitment ensures the successful issuance of these debentures, reinforcing the financial structure of the subsidiary.

The corporate guarantees will be reflected as contingent liabilities in Hubtown Limited's financial records. This strategic move, disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlights Hubtown's support for its subsidiary's financial operations.