| Business Standard- Dunlop India, a Ruia group company, has raised $90 million (around Rs 360 crore) from a consortium of offshore hedge funds to restructure loan and to meet other corporate needs. |
| The structured deal offers the funds an option to pick up to 15 per cent stake in the tyre maker. |
| “We have recently signed a deal with a clutch of offshore hedge funds headed by Spinnakar Capital Group to raise a loan of $90 million. We have also raised Rs 121 crore from Deutsche Bank,†Dunlop Chairman Pawan Kumar Ruia told PTI. |
| The loan was raised by Dil Rim and Wheel (DRW), the Mauritius-based holding company of Dunlop India and Falcon Tyres, which bought the companies from the Chabbrias for Rs 200 crore. |
| To facilitate the loan, DRW has undertaken structural changes with the assets of the company. |
Dunlop raises $90 million from hedge funds
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