Ventive Hospitality Limited entered into a significant agreement with ICICI Bank Limited on January 20, 2025, as part of their corporate financing arrangements. Under the agreement, the Company provides a corporate guarantee for loans taken by its subsidiaries, Maldives Property Holdings Private Limited (MPHL) and SS & L Beach Private Limited (SS&L), securing USD 44 million and USD 66 million, respectively.
Key Details of the Agreement:
- Type of Agreement: Deed of Guarantee
- Parties Involved: Ventive Hospitality Limited and ICICI Bank Limited
- Purpose: To guarantee loans taken by MPHL and SS&L.
- Shareholding: Ventive Hospitality holds 39.67% in MPHL and 27.51% in SS&L.
- Obligations Secured: The Company guarantees USD 44 million for MPHL and USD 66 million for SS&L.
This transaction does not impact management or control, nor does it fall within related party transactions.
In the meantime, Ventive Hospitality’s stock opened today at Rs 689.90 and reached a high of Rs 699.50 and a low of Rs 677.50. Over the past year, the stock has reached a 52-week high of Rs 774.50 and a low of Rs 653.60.
TOPICS:
Ventive Hospitality