India’s Vipul board approves up to Rs. 7.5 billion debenture issue

By Sarah Lizee

Olympia, Wash., Aug. 14 – Vipul Ltd. informed the Bombay Stock Exchange that its board of directors approved an issue of up to Rs. 7.5 billion of nonconvertible debentures.

The issue was approved at a board meeting held on Tuesday, according to the notice.

The debentures will be issued in a private placement in one or more tranches, subject to the approval of members/shareholders of the company at the next annual general meeting.

The real estate developer is based in New Delhi.

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