India’s Sadbhav board approves issue of nonconvertible debentures

By Sarah Lizee

Olympia, Wash., Aug. 8 – Sadbhav Infrastructure Project Ltd. informed the Bombay Stock Exchange that its board of directors met on Wednesday and approved an issue of secured/unsecured nonconvertible debentures and/or other debt securities.

The debentures would be issued on a private placement basis in one or more tranches, according to the notice.

Sadbhav said the debentures would be issued within the overall borrowing limits of the company in the period of the next 12 months.

The issuer develops, operates and maintains road infrastructure assets. It is a subsidiary of Sadbhav Engineering Ltd., a civil engineering company based in Ahmedabad, India.

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