The company issued LOC to Yes Bank
Apollo Hospitals has issued letters of comfort (LOC) worth Rs 101 crore relating to credit facilities availed by its subsidiary companies. While the company issued letter of comfort for Rs 71 crore to Yes Bank on behalf of its subsidiary Apollo Health and Lifestyle, it issued LOC of Rs 30 crore on behalf of its arm Apollo Speciality Hospitals, Apollo Hospitals said in a filing to BSE.
A LOC is a letter from a company to a bank in support of a subsidiary of the company that has asked for a loan.
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