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BigBasket raises Rs 200 crore via debt
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Innovative Retail Concepts, the business-to-consumer (B2C) unit of BigBasket, has raised Rs 200 crore in debt from the Singapore-based DBS Bank.
The company plans to use the funds to set up and maintain dark stores and for other general corporate purposes, according to the company’s filing with the ministry of corporate affairs.
The company’s board has approved the issuance of 20,000 non-convertible debentures (NCDs), each priced at Rs 1,00,000, to raise the funds. The NCDs have a tenure of 18 months and offer an annual interest rate of…
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