Popular Vehicles continues guarantee for subsidiary's credit

Popular Vehicles and Services Limited announced on December 19, 2025, that it is continuing to provide a corporate guarantee in favor of Kotak Mahindra Bank Limited. This guarantee supports credit facilities totaling INR 30,00,00,000 sanctioned to Kuttukaran Cars Private Limited, a wholly-owned subsidiary of Popular Vehicles.

The transaction, carried out on an arm's length basis, involves no interest from the promoters, promoter group members, or directors of Popular Vehicles. This arrangement complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company stated that the guarantee for its subsidiary, which is part of the consolidated group, currently has no impact on Popular Vehicles itself, other than the required disclosure in its financial statements.