Exclusive: Udaan Gets Shareholders' Nod For Raising INR 2,000 Cr In Debt
India, Sept. 22 -- B2B ecommerce marketplace Udaan has received its shareholders approval for raising upto INR 2,000 Cr by allotting NCDs (Non-Convertible Debentures). According to the RoC filings accessed by Inc42, the specific terms of each offer/issue of NCDs will be decided from time to time within the period of one year from the date of the resolution passed (10th September).
The development comes almost a month after TOI reported that Udaan might be looking to raise debt funds from global investors in the period of 12 to 14 months.
Founded in 2016 by former Flipkart employees Sujeet Kumar, Vaibhav Gupta and Amod Malviya, Udaan claims to connect small and medium size businesses, manufacturers, wholesalers, traders and retailers to ...
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