Zilingo by Retail News by Asia

Zilingo Founders Make Buyout Offer as The Company is on The Verge of Liquidation
An independent financial advisor was appointed by the Company which is in the midst of assessing options for the business


Ankiti Bose and Dhruv Kapoor who started the company Zilingo together, have now decided to reunite to put forth a buy out offer for their company as Zilingo edges closer and closer to bankruptcy and liquidation as the days go by according to sources who are close to the company and the situation.

The board of the company and Mr. Dhruv Kapoor met recently he requested them to consider this buy out offer instead of liquidating the company and even told them to look into how much the business has grown, its value, and the potential for it to grow much more than it is currently.

Ankiti Bose by Bloomberg

He said that he has gone on with this offer as he is committed in the growth of the company and that he has also hired legal and financial advisors so that this entire process and go on smoothly with as less hassles possible. He hopes that the board with agree with his offer and that this process can start so that Zilingo can continue their regular operations.

He went on to say that he would love to work alongside any investors who are interested and can see the potential of the company and work with him, the other founder, the management and other investors and share holders as well.

A spokes person of the company said that the company has onboarded an employee taking up an advisory role in the finance side of it when the top brass was trying to figure out what to do with the company.

Ms. Ankiti Bose told that as the founder of a company, she has to ensure that she does everything she can to make sure that her company continues to keep going on so the plethora of people employed under them can continue supporting their families and themselves.

She went on to say that she might have a lot of differentiating opinions and they might not see eye to eye. But at the end of they, they all want the same thing, which is the continuation and growth of the company.

According to the offer, everything Zilingo has including assets, debts, subsidiaries and so on will all be bought out by the new company. There will also be a moratorium of 3 years for all the existing debt the company has. He has also given a half decade plan which is yet to receive the relevant approval from the board.