Board of Mastek approves availing SBLC facility to secure credit for Mastek Inc.

At meeting held on 19 September 2022

The Board of Mastek at its meeting held on 19 September 2022 has approved availing of the Standby Letter of Credit (SBLC) facility of USD 32 million in lieu of the Cancellation of Corporate Guarantee recently executed for the same amount with the Bank to secure the credit facility for the Step Down Subsidiary of the Company i.e. Mastek Inc., subject to applicable laws and approvals.

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