India’s Birla board OKs Rs. 1.5 billion of nonconvertible debentures

By Sarah Lizee

Olympia, Wash., May 3 – Birla Corp. Ltd. informed the Bombay Stock Exchange that its board of directors met on Friday and approved an issue of up to Rs. 1.5 billion of nonconvertible debentures.

The debt may be issued on a private placement basis, and will be issued within a year, according to a notice.

The Kolkata, India-based company operates cement, jute, vinyl flooring and auto trim businesses.

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