India’s Emami issues Rs. 3 billion unsecured nonconvertible debentures

By Tali Rackner

Norfolk, Va., Feb. 22 – Emami Ltd. informed the Bombay Stock Exchange that it has allotted 3,000 unsecured nonconvertible debentures with the face value of Rs. 1 million each, amounting to Rs. 3 billion.

The debentures were issued to DBS Bank Ltd. on a private placement basis.

Proceeds will be used to retire short-term debt, including the payment of commercial paper.

Emami is a Kolkata, India-based producer of personal and health care goods.

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