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| Exchange Received Time 20/12/2017 13:28:14 Exchange Disseminated Time 20/12/2017 13:28:20 Time Taken 00:00:06 | Kindly refer our letter dated 11th December 2017, intimating you of the convening of the meeting of the Board of Directors to interalia consider and approve an issuance of masala bonds in the nature of non-convertible debentures.
In this regard, we wish to inform you that the Board of Directors at their meeting held today have approved the following:
1. Issuance of 500 Masala bonds in the nature of Secured Redeemable, Non-Convertible Debentures of a face value of Rs.1 crore each at par aggregating to Rs.500 crores in one or more tranches on private placement basis;
2. Setting up of a Housing Finance Company (HFC) as a subsidiary and approved necessary authorisations to make an application to National Housing Board and do the needful in this connection.
The meeting of the Board of Directors commenced at 10.30 a.m. and concluded at 1.15 p.m.
Kindly take the above information on record and acknowledge receipt. |
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