HCC reduces corporate guarantee to PRPL by ₹3,364 crore
after close1 source ↓written by the desknot a recommendation
- reduction
- ₹3,364 crore
- to approximately
- 100%
- to approximately
- ₹571 crore
- stands
- ₹3,935 crore
- alongside claims worth
- ₹6,325 crore
Hindustan Construction Company (HCC) has announced a ₹3,364 crore reduction in its corporate guarantee to Prolific Resolution Private (PRPL). This adjustment lowers HCC's guarantee obligations from 100% to approximately ₹571 crore. The move aims to enhance long-term shareholder value and follows approvals from PRPL's lenders. 📉
The total debt for PRPL, including interest, stands at nearly ₹3,935 crore, alongside claims worth ₹6,325 crore. This strategic reduction may positively impact HCC's financial stability and investor sentiment.
Not investment advice. For informational purposes only.