IndoStar board OKs raising Rs. 100 million in nonconvertible debt

By Tali Rackner

Norfolk, Va., March 12 - IndoStar Capital Finance Pvt. Ltd. informed the Bombay Stock Exchange that its board met on Wednesday and approved a proposed issue of secured redeemable nonconvertible debentures of Rs. 1 million each for cash at par for a total amount up to Rs. 100 million.

The debentures will be issued on private placement basis.

IndoStar is a non-banking financial company based in Mumbai, India.

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