By Tali Rackner
Minneapolis, Aug. 9 – Vipul Ltd.’s board of directors approved the allotment of Rs. 1.5 billion of zero-coupon secured redeemable nonconvertible debentures at par on Wednesday, according to a letter to the Bombay Stock Exchange seeking listing of the debentures.
The 54-month debentures will be sold on a private placement basis to ECL Finance Ltd.
The real estate developer is based in New Delhi.
| Issuer: | Vipul Ltd.
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| Issue: | Secured unlisted unrated redeemable nonconvertible debentures
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| Amount: | Rs. 1.5 billion
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| Coupon: | 0%
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| Maturity: | Feb. 18, 2022
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| Investor: | ECL Finance Ltd.
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| Allotment date: | Aug. 18
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| Distribution: | Private placement
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