India’s Birla board OKs Rs. 3 billion debt issuance, early redemption

By Sarah Lizee

Olympia, Wash., May 22 – Birla Corp. Ltd. informed the Bombay Stock Exchange its board of directors met on Friday and approved an issue of up to Rs. 3 billion of redeemable nonconvertible debentures.

The debentures may be issued on a private placement basis in one or more tranches within a period of one year.

The board also approved the full or partial early redemption of its secured nonconvertible debentures issued in different series.

The Kolkata, India-based company operates cement, jute, vinyl flooring and auto trim businesses.

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