Indiabulls delays issuance of Rs. 3 billion debentures by one day

By Wendy Van Sickle

Columbus, Ohio, March 10 – Indiabulls Real Estate Ltd. has pushed back the date it 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 now be issued on March 11 instead of March 10.

No other terms have changed relating to the debentures, which 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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