India’s Ashiana may issue Rs. 2.5 billion of nonconvertible debt

By Sarah Lizee

Olympia, Wash., Jan. 4 – Ashiana Housing Ltd. informed the Bombay Stock Exchange that its board of directors met on Thursday to approve an issue of up to Rs. 2.5 billion of debt securities, subject to approval of its shareholders.

The securities may be issued in the form of secured or unsecured nonconvertible debentures, or any other security or a combination thereof.

The company said it fixed Jan. 12 as the cut-off date for the purpose of taking record of the shareholders entitled to cast their vote by e-voting and postal ballot.

Ashiana is a New Delhi-based real estate development company.

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