Exicom Announces Rights Issue & Debt-to-Equity Move

  Published 1 year ago

Exicom approves Rs 260 crore rights issue and converts Rs 283 crore loan to equity in Dutch EV subsidiary to boost liquidity.

  • Board approves rights issue up to Rs 260 crore via committee to fund growth and reduce debt.
  • Unsecured loan of Rs 283.20 crore converted to equity in Exicom Power B.V. to cut interest costs.
  • Subsidiary operates in EV sector; transaction complies with FEMA, no fresh cash outflow.

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