Man Industries board clears USD 70 million corporate guarantee to support subsidiary MISIC’s expansion in Saudi Arabia, with no immediate financial impact.
Apr 23, 2026
Man Industries (India) Limited has approved a corporate guarantee of USD 70 million for its wholly owned subsidiary, Man International Steel Industries Company (MISIC), during its board meeting on April 22, 2026. The guarantee will support MISIC’s business expansion in Saudi Arabia and will be extended in favor of its lenders.
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The company clarified that the guarantee will be treated as a contingent liability and currently has no financial impact on the company.
