Popular Vehicles extends guarantee for subsidiary's inventory funding

Popular Vehicles and Services Limited (PVSL) announced on November 19, 2025, that it is continuing to extend a corporate guarantee in favor of Axis Bank Limited. This guarantee relates to the renewal and enhancement of an inventory funding limit (vehicles) for up to Rs. 25,00,00,000, and for additional fresh inventory funding (spares) of Rs. 5,00,00,000.

The total aggregate amount of this corporate guarantee is Rs. 30,00,00,000, sanctioned to Prabal Motors Private Limited, a subsidiary of PVSL. The company confirmed that none of the promoters, promoter group members, or directors of PVSL have an interest in this transaction, affirming it was conducted on an "Arm's Length basis."

The guarantee is provided on behalf of the subsidiary, which is part of the consolidated group. PVSL stated that there is no immediate impact on the listed entity other than the necessary disclosure in its financial statements. This action is compliant with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.