India's Electrosteel Castings approves Rs. 2 billion of debentures

By Tali Rackner

Norfolk, Va., May 12 – Electrosteel Castings Ltd. informed the Bombay Stock Exchange that its board of directors met on Tuesday, inter alia, and approved raising up to Rs. 2 billion of funds through an issue of non-convertible debentures.

The issue, which will be on a private placement basis, is subject to member approval.

Electrosteel Castings is a Kolkata, India, maker of water and sewer pipes.

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