Shanti Educational Initiatives Issues Letter of Comfort for Rs 5 Crore Subsidiary Loan

Shanti Educational Initiatives Ltd (SEIL), an Ahmedabad-based education services provider, issued a letter of comfort to ICICI Bank for a nearly Rs 5 crore loan taken by its subsidiary, Uniformverse Private Limited. The letter assures support but is not a formal guarantee. SEIL's shares have delivered multibagger returns over five years, exceeding 1,000%, though recent trading shows some declines. The stock trades above long-term moving averages but below short-term ones, reflecting mixed market sentiment.