Key Transaction Details
The company has extended a corporate guarantee in favor of Kotak Mahindra Bank Limited to secure various fund-based and non-fund-based facilities availed/to be availed by its subsidiary, nexG Devices Private Limited (nexG).
Guarantee Amount: ₹40 Crores
Previous Guarantee: This new guarantee substitutes an earlier corporate guarantee of ₹80 Crores that was announced on August 29, 2024.
Beneficiary Bank: Kotak Mahindra Bank Limited
Subsidiary Information
Subsidiary Name: nexG Devices Private Limited
Company Ownership: Media Matrix Worldwide holds 56.78% of the paid-up share capital of nexG
Business Description: nexG is an established distribution & logistic house with PAN-India footprint, specializing in sales & distribution of innovative products in mobility and IT across all states. The company caters to large retail chain outlets across diverse market segments and has strong capabilities in national and regional distribution across Modern Trade, General Trade, and Online Channels.
Financial Impact
The corporate guarantee given in favor of Kotak Mahindra Bank Limited on behalf of nexG will be disclosed as contingent liabilities in the financial statements of Media Matrix Worldwide Limited.
#Tags: #MediaMatrixWorldwide #CorporateGuarantee #SEBIDisclosure #RegulatoryCompliance #SubsidiaryUpdate #Neutral