India’s IDFC approves up to Rs. 100 billion of nonconvertible debt

By Tali Rackner

Minneapolis, April 25 – IDFC Bank Ltd. informed the Bombay Stock Exchange that its board of directors met on Tuesday and approved raising up to Rs. 100 billion of redeemable nonconvertible debentures and other debt instruments.

The debentures will be issued in one or more tranches in the domestic/overseas markets, over a period of one year, within the overall borrowing limit of Rs. 1.5 trillion.

The debentures would be listed on the National Stock Exchange of India Ltd. and/or the BSE Ltd.

IDFC is a bank based in Chennai, India.

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