Popular Vehicles guarantees subsidiary loan for INR 10 crores

Popular Vehicles and Services Limited announced on September 2, 2025, that it is providing a corporate guarantee to Axis Bank Limited for a term loan of INR 10,00,00,000. This guarantee is in favor of Kuttukaran Cars Private Limited, a wholly-owned subsidiary of Popular Vehicles and Services.

The transaction, carried out at "arm's length," indicates no interest from the promoters, promoter group members, or directors of Popular Vehicles and Services in this specific guarantee.

According to the company, this guarantee for its subsidiary, part of the consolidated group, is not expected to have any immediate impact on the listed entity other than requiring disclosure in its financial statements.