India’s Jindal Power allots Rs. 5 billion of nonconvertible debentures

By Tali Rackner

Norfolk, Va., Dec. 22 – Jindal Steel & Power Ltd. informed the Bombay Stock Exchange that the executive subcommittee of directors of Jindal Power Ltd. met on Monday and allotted 5,000 privately placed rated redeemable unsecured nonconvertible debentures for cash at par, aggregating to Rs. 5 billion.

Jindal Power is a subsidiary of Jindal Steel.

The debentures were issued in three series to the Kotak Mahindra Bank Ltd.

New Delhi, India-based Jindal Power engages in generating and trading electric energy. Parent company Jindal Steel operates in steel, mining, power and infrastructure sectors in India and internationally.

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