India’s Arman Financial allots Rs. 275 million of 12.6% debentures

By Sarah Lizee

Olympia, Wash., Sept. 19 – Arman Financial Services Ltd. informed the Bombay Stock Exchange that its board of directors allotted Rs. 275 million of 12.6% senior secured nonconvertible debentures.

The 275 debentures, with a face value of Rs. 1 million each, were issued on a private placement basis to AAV Sarl (Luxembourg), through its Indian custodian Deutsche Bank AG, Mumbai Branch, according to the notice.

Arman is an Ahmedabad, India, non-banking finance company.

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