New Issue: Arman Financial prices Rs. 72.65 million 10% convertible debentures

By Devika Patel

Knoxville, Tenn., Nov. 22 - Arman Financial Services Ltd. informed the Bombay Stock Exchange that it approved plans to sell Rs. 72.65 million of 10% compulsorily convertible debentures to Rural Impulse Fund II SA at a board of directors meeting on Nov. 21.

The company will sell 1,275,760 debentures at Rs. 56.95 each.

Holders may subscribe for either one equity share per debenture or one class A ordinary share per debenture. The option to convert the debentures to shares expires in 18 months.

Arman is a Ahmedabad, India, non-banking finance company.

Issuer:	Arman Financial Services Ltd.
Issue:	Compulsorily convertible debentures, equity shares, class A ordinary shares
Amount:	Rs. 72,654,532
Debentures:	1,275,760
Price:	Par of Rs. 56.95
Maturity:	18 months
Coupon:	10%
Warrants:	No
Investor:	Rural Impulse Fund II SA
Pricing date:	Nov. 21

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