India’s Dewan Housing plans to issue more nonconvertible debentures

By Tali Rackner

Norfolk, Va., July 28 – Dewan Housing Finance Corp. Ltd. informed the Bombay Stock Exchange that its board met on July 24, inter alia, and approved the following nonconvertible debentures on a private placement basis:

• Nonconvertible secured debentures of Rs. 155 billion in addition to the Rs. 45 million approved on June 12;

• Nonconvertible subordinated unsecured debentures of Rs. 5 billion in addition to the Rs. 5 billion approved on June 12; and

• Nonconvertible perpetual unsecured debentures of Rs. 3 billion in addition to the Rs. 2 billion approved on June 12.

Dewan Housing is a housing finance company in Mumbai.

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