India’s Hinduja approves Rs. 500 million subordinated debenture issue

By Tali Rackner

Norfolk, Va., April 10 – Hinduja Finance Ltd. informed the Bombay Stock Exchange that its board of directors decided to raise funds through an issue 500 unsecured redeemable non-convertible subordinated redeemable debentures, series 3, with a face value of Rs. 1 million each.

The issue, totaling Rs. 500 million, will be made on a private placement basis.

Hinduja is a Chennai, India-based non-banking finance company.

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