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Rising from the ashes: Subex climbs out of a debt-spiral and has a survival tale to tell


Synopsis

From INR3 per share in 2020 to INR60 per share now, Subex’s stock has rallied by over 757% in the last year. This isn’t only because of the bull run after March 2020’s black-swan event. Subex had turned debt-free in January 2019. From almost going under to emerging debt-free, Subex battled many ghosts. Can it keep up the good run?

“I feel honoured to bring to your knowledge that in January 2019, your company has paid off working-capital loans from its banking partners in entirety and Subex is now a completely debt-free company.”Back in 2009, just a year after the global recession which was still decimating companies to dust, telecom software-solutions provider, Subex, wasn’t really sure that its chief financial officer, Venkatraman GS, would get to say the above lines.

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