Karuturi Global has divested from the noncore ISP business with immediate effect. The company had recently approached the bond holders with a re-structuring proposal and received approval from bond holders for restructuring of outstanding foreign currency convertible bonds (FCCBs) amounting to $39 million.
Karuturi Global, is the largest producer of cut roses in the world, with are area of over 292 hectares under Greenhouse cultivation and an annual production capacity of around 555 million stems. Equipped with a robust and de-risked business model, Karuturi Global’s other fast-growing business realms are food processing, floriculture retail including a flower auction portal and information technology.
