Mumbai, March 6 -- The company stated that it has repurchased the entire Rs 95 crore issue of 21% secured NCDs, initially placed in July 2023 with NEO AIF and associates.

This repurchase was facilitated through a Rs 175 crore debt refinancing from Emerging India Credit Opportunities Fund II (an associate of Investec Capital Services (India) Pvt. Ltd.).

The refinancing offers a significantly reduced interest rate of 12.5% per annum on up to Rs 150 crore of existing debt, covering the Rs 90 crore owed to NEO AIF & associates and Rs 60 crore owed to other lenders.

The remaining funds will be used for working capital and capital expenditure to support the company's growth.

The repayment of this facility is structured over 5 years, with an...