Crippled by huge losses, RSRTC seeks six-month time to repay bond

Faced with huge losses that have affected its cash flow and liquidity, the Rajasthan State Road Transport Corporation (RSRTC) has requested an extension of six months from investors to redeem the last instalment of 10-year bonds worth a total of Rs 311.80 crore.

The last instalment, which the firm has requested an extension for, is worth Rs 124.72 crore.

The instalment, which is 40 per cent of the bond amount, was due on November 1. The state-run firm has requested investors for an extension till May 1, 2023. The coupon of the bond — or the rate of interest to