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Tilaknagar looks to invest in brand building
Mint Mumbai
|August 14, 2023
Liquor company Tilaknagar Industries will step up investments in its brandy and gin lines during this financial year now that the firm has prepaid its restructured debt, freeing up additional cash for brand building
On Friday, the producer of Mansion House brandy and Blue Lagoon gin revealed that it had fully repaid its restructured debt to Edelweiss Asset Reconstruction Co. (EARC).
According to a filing to the exchanges, the company said the total restructured debt amounting to ₹176.22 crore as of 30 June, has been settled.
"The prepayment has been funded by a debt of ₹130 crore from Kotak Mahindra Bank as well as the internal accruals of the company," it said.
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