Shares of Prestige Estates Projects, an Indian real estate company, plunged 8.41% in pre-market trading on Friday. The stock, traded on the National Stock Exchange of India (NSE:PRESTIGE) and the Bombay Stock Exchange (BOM:533274), saw heavy selling pressure ahead of the market open.
The pre-market selloff appears to be in response to a regulatory filing by the company on Thursday. Prestige Estates Projects extended a corporate guarantee to secure a loan facility of up to 6 billion Indian rupees (approximately $72 million) being availed by its subsidiary, Dollars Hotel and Resorts. This corporate guarantee represents a contingent liability for the parent company.
Investors may be concerned about the potential financial risk associated with the subsidiary's new debt and the parent company's guarantee. The sell-off could reflect fears that Prestige Estates Projects may be on the hook for the loan if the subsidiary struggles to repay it, which could impact the company's financial health and future growth prospects.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。