Ajmera Realty Slashes Corporate Debt by Rs 100 Crore

Ajmera Realty & Infra India Ltd has reduced its corporate debt by Rs 100 crore, bringing it down to Rs 693 crore. The repayment was made possible through a recent Rs 225 crore equity offering, which will also support new project launches and strengthen corporate functions.

Ajmera Realty & Infra India Ltd has successfully reduced its corporate debt by Rs 100 crore, the company announced on Thursday. The Mumbai-based firm disclosed the repayment in a regulatory filing, signaling a decrease in outstanding debt to Rs 693 crore.

The debt reduction was facilitated by funds from a recent equity offering of Rs 225 crore. This strategic move was executed ahead of the scheduled due date, with the company expecting better returns due to lower interest payments on its existing debt.

The company plans to leverage the injected equity funds to boost project launches and enhance its corporate functionalities. Dhaval Ajmera, Director of Ajmera Realty, emphasized the importance of this move in de-leveraging efforts, aiming to improve the debt-equity ratio and support the company’s growth and wealth creation targets.

(With inputs from agencies.)