Jyothy Laboratories has raised Rs550 crore ($110 million) through a 5-year-loan from Axis Bank at a floating interest rate of 11.25%. The fund raising is largely to refinance part of the debt it incurred to acquire controlling stake in the Indian unit of Henkel AG.
The company had earlier intended to raise funds through a private equity deal, but has put that plan on hold because of poor market conditions.
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The company had earlier intended to raise funds through a private equity deal, but has put that plan on hold because of poor market conditions.
....more info