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Home / Knowledge Hub / Blog / Gold Plus Glass, India’s Leading Glass Manufacturing Company, Raises Largest Ever Debt of 430 Cr through Yubi’s Loan Platform
Gold Plus Glass Insudtry Limited (GPGIL) is india’s second-largest float glass manufacturing company and has completed major projects such as Infosys offices in Chandigarh and Pune and Ranbaxy office in Mohali. The company was facing key challenges of raising debt to fuel growth, remove promoter’s personal security and in the minimum possible duration find the most optimal debt product. Yubi’s Loan team undertook a detailed review of the client’s current borrowings problem and focussed on Discovery, Execution, and Fulfilment of Loan Requirements. As a result, GPGIL was able to rasie financing of Rs. 430 crore in about 2 months from marquee investors while reducing their borrowing cost by about 350 basis points.
Founded in 1985, GPGIL is India’s second-largest float glass manufacturing company, with an annual capacity of 1,250 tons per day (TPD). It carries the distinction of being the first company to get ISI certification for clear float glass manufactured in India. Some of the company’s major projects have been successfully completed, including Infosys offices in Chandigarh and Pune, Days hotel in London, and the Ranbaxy office in Mohali.
The Challenge
- Raise funds to help the company continue in the growth trajectory
- Replace the existing lenders to aid the expansion plans and remove the promoter’s personal security
- Find the most optimal debt product in the minimum possible duration
Gold Plus was ready to implement an innovative debt product in the minimum possible time to achieve business growth without manual intervention.
The Solution
By undertaking a detailed review of the client’s current borrowings problem and carefully plotting a better route forward, Yubi’s Loan team designed a system that focuses on three key attributes: Discovery, Execution, and Fulfilment of Loan Requirements.
The Results
Gold plus raised financing in the shortest time possible thanks to the credAvenue loan platform. The partnership between Gold Plus Glass and Yubi was quite fruitful, as evidenced by the following statistics.
