Hubtown has delayed the redemption in full, the principal amount of the Rated Secured Redeemable Non-convertible Debentures (NCDs) aggregating Rs 100 crore. The due date for redemption was December 14, 2015 and the delay was owing to the liquidity crunch.
The company is exploring alternative sources of finance to generate adequate cash flows to overcome the liquidity crunch and is hopeful that these efforts will yield fruitful results.
Hubtown (formerly known as Akruti City) is engaged in the development, sale, and lease of commercial, residential, retail, and industrial properties.
