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India’s Muthoot board approves up to Rs. 50 billion debenture issue
By Sarah Lizee
Olympia, Wash., Sept. 4 – Muthoot Finance Ltd. notified the Bombay Stock Exchange that its board of directors approved an issue of up to Rs. 50 billion redeemable nonconvertible debentures, including a previously approved unissued portion of Rs. 20 billion.
The issue was approved at a meeting held Tuesday, according to the notice.
The debentures would be issued in one or more tranches on a private placement basis.
Ernakulam, India-based Muthoot is a non-banking finance company.
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