Cocoblu Retail Ltd scales up business

Cocoblu Retail Limited ("Cocoblu"), a wholly owned subsidiary of RattanIndia Enterprises Limited ("the Company"), which is in the business of ecommerce, is a seller on a leading online retail platform in the country and is providing value to salient brand-owners in India's ever-expanding e-commerce landscape and has scaled up the business immensely.

In view of its growing business & the upcoming festive season and to cater to the demands of the retail customers, Cocoblu needs to procure and store inventory for which working capital is required beyond the sizable equity commitment of Rs. 350 Cr. done by the Company in Cocoblu. The Company and its promoters are committed to provide all necessary financial/non-financial assistance to Cocoblu to augment its revenues and enhance its business. Towards this endeavour, one of the promoters of the Company, i.e Laurel Energetics Private Limited ("Laurel"), by way of providing security for securing working capital for Cocoblu, pledged 2.72% equity shares of the Company out of the 74.81% shares owned by promoters of the Company.

Source : Equity Bulls

Keywords

RattanIndiaEnterprises CocobluRetail WorkingCapital Business