Zoomcar Announces Debt Restructuring Amidst Continued Growth and Leadership Focus on Financial Stability

BENGALURU, India, Oct. 16, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the NASDAQ-listed leading marketplace for self-drive car sharing, hit a major milestone in the debt restructuring process that is aimed at reducing the company's debt obligations of approximately $31 MM out of the total outstanding debt ("debt" and "payables") as on June 30, 2024. Zoomcar has successfully negotiated with lenders and vendors who approximately owe 75% of the immediately payable ...