RBI had earlier voiced its reservations about ‘credit enhancement’ mechanisms like ‘letter of comfort’ and ‘letter of undertaking’ given by promoters or parent firm to the borrowing entity as well as supports like pledge of shares. Corporates lower their cost of debt, often significantly, through these structures.
Valiant Laboratories IPO fully subscribed on Day 3. Check GMP & other details
The offer, which is priced at Rs 133-140 apiece, is completely a fresh equity issue of 1.08 crore shares. Investors can bid for a minimum