India’s Deepak Fertilisers board approves Rs. 2.5 billion debentures

By Sarah Lizee

Olympia, Wash., Nov. 2 – Deepak Fertilisers and Petrochemicals Corp. Ltd. informed the Bombay Stock Exchange that its board of directors approved on Thursday a private placement of Rs. 2.5 billion of nonconvertible debentures.

There is an additional Rs. 2.5 billion greenshoe option, subject to approval by the company’s shareholders.

Proceeds would be used mainly to repay existing nonconvertible debentures.

Deepak Fertilisers is based in Pune, India.

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