SEIL Issues Loan Assurance for Subsidiary

Shanti Educational Initiatives Ltd (SEIL) is a company that has seen its stock price go up a lot in the past few years.

Recently, they sent a special letter to ICICI Bank to say that their subsidiary, Uniformverse Private Limited, has taken a loan of nearly ₹5 crore.

This letter is like a promise that the subsidiary will not do anything to reduce its ownership in the company if it cannot pay back the loan.

However, SEIL made it clear that this letter is not a legal guarantee but just a comfort to the bank.

The stock price of SEIL has been going up and down, but it has given big returns to investors over the past five years.