I have been wondering why the need for this new financing, well Suresh gives us the answer right here:
01:28:42 – Suresh Venkatesan: We would not have put it on a chart if I didn’t think it was possible. Yes, we are confident that we can close something. And yes, that’s the modeling we are doing financially and that’s what we want to spend the next three months and we are really putting a robust plan together. If the financing does come in, then yeah, we don’t need to go to the capital market for financing, because the NRE can do that for us.
So going by Suresh words it is very obvious that the NRE did not pan out.
Trini
