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Infiniti Retail (Croma) Plans For Expansion At Rs. 150 Crore Budget

Infiniti Retail raises its bond for expansion. This just means that the company is eyeing to establish its name more in the industry. It had raised its bonds worth Rs 150 crore for the said expansion and refinancing purposes. This bond was raised by the company through a private placement route which has an interest rate of 11.45% and this will be paid for about three years.

Croma Infiniti Retail Logo

Croma Infiniti Retail Logo

On the company’s filing with the Registrar of Companies last week, they have mentioned that the company issued non-convertible debentures amounting to Rs 150 crore this is on the view to utilize the proceeds of the expansion.

For the record, the company runs 75 durables and electronic stores across the country with the brand Croma and Croma Zip. The company had given their bondholders the opportunity to exit in the case that there would be some problems on their stakes. This can only be possible when the fall of their stake is due to foreign direct investment.

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