VA Tech Wabag to get Rs 200 crore loan from Asian Development Bank

28 Nov 2022 , 06:53 AM

VA Tech Wabag, a water technology company, has inked a deal with the Asian Development Bank (ADB) to finance Rs200 crore through unlisted non-convertible debentures (NCDs) of 5-year and 3-month maturity.

ADB will subscribe to this NCD over a year, according to a statement from Wabag.

Wabag will use the Rs200 crore in capital raised through this NCD issuance to finance its working capital needs; it will stay within the company’s current borrowing limits and won’t raise its debt levels, it added.