Deal Highlights

• JCL achieved remarkable turnaround from FY20 supported with market dynamics & management competencies in productivity improvement & liability management efforts
• Despite strong turnaround & financials, re-entry into normal banking was tough to come by due to legacy issues of debt resolution
• Nuvama enabled JCL’s successful foray back into banking mainstream:
  • Raising need-based WC funding;
  • Achieving competitive terms;
  • Lenient security & financial covenants, meeting client expectation without diluting bank’s credit norms

Nuvama Contribution

• Presented a compelling case for funding by citing turnaround & healthy financial metrics along with strong management credentials
• Garnered a few interests from banks despite legacy issues
• Negotiated commercials & covenants with bank