India, July 23 -- Crompton Greaves Consumer Electricals Ltd., a key player in the consumer durables sector, has announced the successful repayment of the final tranche of its Non-Convertible Debentures (NCDs) amounting to ?300 crore. This marks the complete repayment of the ?2,125 crore debt undertaken for the acquisition of Butterfly Gandhimathi Appliances Ltd., in which Crompton holds a 75% stake.
The company has now fully settled all five scheduled tranches of the NCDs, reinforcing its strategic focus on debt reduction and lowering interest costs. This debt-free milestone enables Crompton to allocate more resources towards innovation, future growth, and enhanced shareholder value.
Commenting on the development, Kaleeswaran Arunachalam,...