Popular Vehicles extends ₹550m in corporate guarantees to subsidiaries

Popular Vehicles and Services Limited (PVSL) announced on November 11, 2025, the continuation of significant corporate guarantees to two of its wholly-owned subsidiaries, Popular Autoworks Private Limited and Popular Mega Motors (India) Private Limited. These guarantees are in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company extended a corporate guarantee in favor of The South Indian Bank Limited for Popular Autoworks Private Limited. This covers the renewal of a Dealer Finance Facility and a new Term Loan, aggregating to a total limit of INR 17.50 crores. Separately, Popular Vehicles also continued its corporate guarantee to IndusInd Bank Limited for Popular Mega Motors (India) Private Limited, supporting Channel Financing and an Adhoc limit up to an amount of INR 37.50 crores.

PVSL confirmed that these transactions are conducted at an arm's length basis, with no interest from promoters, promoter group members, or directors of the company. The guarantees are provided on behalf of subsidiaries within the consolidated group and, at this point, are not expected to have an impact on the company beyond disclosure in its financial statements.