India’s Tata Capital board approves three issues of debentures

By Tali Rackner

Norfolk, Va., March 31 – Tata Capital Financial Services Ltd. informed the Bombay Stock Exchange that its board of directors met on Monday and approved the following proposals by way of private placement:

• Up to Rs. 5 billion of unsecured redeemable nonconvertible debentures qualifying as subordinated debt (tier II);

• Up to Rs. 3 billion of unsecured nonconvertible perpetual debentures; and

• Up to Rs. 5 billion of unsecured redeemable nonconvertible debentures.

Based in Mumbai, Tata Capital is a financial services provider and a subsidiary of Tata Sons Ltd.

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