India's Satra Properties plans up to Rs. 560 million debenture issue

By Tali David

Minneapolis, Dec. 2 - Satra Properties India Ltd. informed the Bombay Stock Exchange that its board of directors has decided to raise funds by issuing secured redeemable nonconvertible debentures up to an amount of Rs. 560 million on a private placement basis.

The board also appointed IL&FS Trust Co. Ltd. as debenture trustees.

The company approved the bonds at a board of directors meeting on Nov. 28.

Based in Mumbai, Satra Properties is a real estate development company with a focus on shopping malls.

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