HFCL Issues ₹265 Crore Corporate Guarantee for HTL

HFCL executed a Second Amended & Restated Deed of Corporate Guarantee for ₹265 Crores in favor of SBICAP Trustee Company Limited.
The new guarantee substitutes an earlier ₹295 Crore guarantee for working capital facilities of subsidiary HTL Limited.
HTL is a 74% subsidiary engaged in optical fiber cable manufacturing and aerospace/defense wiring solutions.
The guarantee will be disclosed as a contingent liability in HFCL's financial statements.