According to documents filed with the Registrar of Companies, Grand Anicut granted Rs 100 crore in debt funding to agriculture supply chain startup Waycool.
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In order to obtain INR 100 Cr, the board agreed on the investment of capital through 1,000 Series B6 debentures at an issue price of INR 10 Lakh each. According to WayCool’s regulatory filing, the debentures have an 18% annual coupon rate, with an 18-month maturity period.
WayCool intends to use the additional funds to build working capital and repay its current debt.
WayCool, which was founded in 2015 by Karthik Jayaraman and Sanjay Dasari, operates a full stack, broadline product range across multiple channels and categories such as fresh produce, staples, and dairy, serving over 1,00,000 clients in the general trade, modern trade, and food services space.Â
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