India’s Talwalkars board approves offer for nonconvertible debentures

By Tali Rackner

Norfolk, Va., April 8 – Talwalkars Better Value Fitness Ltd. informed the Bombay Stock Exchange that its board of directors met on Wednesday and approved the offer to subscribe to nonconvertible debentures on private placement basis.

The board also agreed to increase the authorized share capital of the company to Rs. 320 million from Rs. 300 million.

The offer will be submitted to members by way of postal ballot.

Mumbai-based Talwalkars operates a chain of fitness centers.

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