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Aug 14, 2009, 02.00 PM IST
The Delhi based retail chain Vishal retail has managed to roll over Rs 250 crores of its short term debt from mutual funds and banks. CNBC-TV18’s Tanvi Shukla and Vidhi Godiawala report.
Vishal Retail has a debt of Rs 700 crore on its books. And now, the retailer says that it has managed to roll over or extend its loan tenure for nearly Rs 250 crore of its debt from mutual funds and banks.
LIC mutual fund's two schemes, LIC MF Liquid and LIC MF Income Plus invested Rs 100 crore in Vishal Retail's commercial paper, which it has rolled over last month. DWS has Rs 50 crore exposure to Vishal Retail via debentures. It was rolled over once six months ago and has agreed to roll over the second time. The retailer has managed to extend its Rs 50 crore loan repayment period to bank of
With the festive season picking up, Vishal Retail hopes to generate higher revenues and emerge out of troubled waters soon.
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