IndoStar approves Rs. 2.3 billion debentures; Rs. 500 million buyback

By Wendy Van Sickle

Columbus, Ohio, May 6 – IndoStar Capital Finance’s debenture committee on Friday approved issuing Rs. 2.5 billion of secured redeemable debentures and buying back Rs. 500 million of the company’s tranche VI secured redeemable non-convertible debentures, according to a notice filed with the Bombay Stock Exchange.

The newly approved debenture issues include Rs. 2.3 billion of series XV debentures to be listed on the wholesale debt market segment of the exchange and Rs. 200 million of unlisted series XVI debentures. Each series may be issued by private placement in one or more tranches.

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

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