India’s Capital First board OKs Rs. 2 billion nonconvertible debt

By Wendy Van Sickle

Columbus, Ohio, Aug. 24 – Capital First Ltd.’s board of directors approved a Rs. 2 billion issue of unsecured redeemable nonconvertible debentures on Thursday, according to a Bombay Stock Exchange notice.

The subordinated tier II debentures will be issued in a private placement.

They will be rated and listed on the National Stock Exchange of India Ltd.

Capital First is a Mumbai, India-based consumer and wholesale business financial services provider.

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