Loan Amount: ₹100 million
Use of Capital: Working Capital
Location: Navi Mumbai, Maharashtra
Brick and Byte Innovative Products Private Limited
Red Fort Capital has extended a facility of INR 100 Mn to facilitate the increased working capital needs of Brick and Byte Innovative Products, a leading sheet metal fabricator based in Navi Mumbai. Their major customers include corporates like Bharat Electronics India, EON Global, Vertiv Energy, Tokheim, and more. Brick and Byte is a 20-year-old manufacturer with expertise in precision manufacturing and rapid prototyping services to meet the requirements of their clients. They had seen a resurgence in demand post-COVID and were in need of funds quickly to capitalize on the opportunity.
Red Fort Capital understood the need of the client and was able to underwrite the loan within 10 days for the firm based on the company’s proven track record and the promoter’s entrepreneurial spirit. Red Fort Capital stands firm with its goal of enabling MSMEs to grow and scale up their operations. MSMEs remain the backbone of the nation and a primary source of employment for the nation’s youth. Brick and Byte hopes to grow their revenue by at least 60% with an infusion of this debt into their working capital, effectively absorbing their excess capacity and scaling exponentially over the next few years.