GAIL (India) board OKs up to Rs. 15 billion of nonconvertible bonds

By Sarah Lizee

Olympia, Wash., Jan. 16 – GAIL (India) Ltd. informed the Bombay Stock Exchange that its board of directors met on Thursday and approved fundraising by way of borrowing up to Rs. 15 billion of secured or unsecured redeemable nonconvertible bonds.

The bonds would be issued in one or more tranches from time to time on a private placement basis.

The total amount includes a greenshoe.

New Delhi-based GAIL is the largest gas transmission and marketing company in India.

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