India’s Oberoi approves convertible, non-convertible debenture issues

By Wendy Van Sickle

Columbus, Ohio, May 10 – Oberoi Realty Ltd. informed the Bombay Stock Exchange that its board of directors met on Tuesday and approved an issue of up to Rs. 15 billion of non-convertible debentures.

The board also approved up to Rs. 20 billion of equity shares or any other securities convertible into equity.

The non-convertible debentures will be issued by way of private placement in one or more offerings, and the convertibles will be issued in one or more offerings by way of public or private placement, or both.

Oberoi is a Mumbai-based real estate developer.

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