India’s Indiabulls to sell Rs. 3 billion nonconvertible debentures

By Wendy Van Sickle

Columbus, Ohio, March 4 – Indiabulls Real Estate Ltd. plans to issue Rs. 3 billion of secured, redeemable, nonconvertible debentures, according to a Bombay Stock Exchange notice.

The 3,000 debentures with a face value of Rs. 1 million each will be issued on a private placement basis under the terms approved by shareholders at the company’s ninth annual general meeting held on Sept. 28.

Indiabulls is a Mumbai, India-based real estate company.

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