Grover Jewells Approves ₹23 Crore Axis Bank Credit Facilities

Board approved loan/credit facilities of Rs 23 Cr from Axis Bank. The facility adds meaningful debt capacity for Grover Jewells' working-capital-intensive wholesale jewellery business, shortly after its IPO. Drawdown status, interest rate, tenor, security, covenants and end-use were not disclosed; utilization could increase leverage and working-capital dependence.