IndoStar board approves raising Rs. 1.2 billion of nonconvertible debt

By Tali Rackner

Norfolk, Va., Aug. 22 – IndoStar Capital Finance Pvt. Ltd. informed Bombay Stock Exchange that its board met on Friday and approved the issue of rated secured redeemable nonconvertible debentures of Rs. 1 million each for cash at par for an aggregate amount of Rs. 1.2 billion.

The debentures will be issued in one or more tranches and series on private placement basis.

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

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