Popular Vehicles extends guarantees for subsidiary financing

Popular Vehicles and Services Limited ("the Company") has continued to extend corporate guarantees in favor of Federal Bank Limited. These guarantees facilitate the renewal and enhancement of Electronic Dealer Funding Scheme (EDFS) limits for its subsidiaries.

The Company renewed a corporate guarantee of INR 25,00,00,000 for Popular Mega Motors (India) Private Limited, a wholly-owned subsidiary. Additionally, a corporate guarantee of INR 33,00,00,000 has been renewed and enhanced for Prabal Motors Private Limited, a step-down subsidiary. Both transactions are conducted on an arm's length basis.