NewsData.io26 Sept 2026, 12:04 pm ISTDelayed
Prestige Estates guarantees subsidiary loan; withdraws IPO filing
What happened
- Prestige Estates provided a corporate guarantee of up to Rs 750 crore for a loan taken by its subsidiary from ICICI Bank.
- Separately, the subsidiary Prestige Hospitality Ventures withdrew its plan for an initial public offering.
Key terms explained
Financial terms from this story, in everyday words.
- Corporate guarantee
- A promise by a company to pay a debt if its subsidiary fails to do so.
- Initial Public Offering (IPO)
- The first time a company offers its shares to the public on a stock exchange.
Original source
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