Cholamandalam DBS to issue Debentures

Cholamandalam DBS Finance Ltd has announced that the Board of Directors of the Company at its meeting held on July 30, 2007, has approved the following:

1. Subject to the approval of the increase in overall borrowing limits of the Company by the shareholders, Issue of the following non convertible debentures on a private placement basis in one or more series to Mutual Funds / Institutions / Banks / Bodies Corporate or other agencies:

- medium term Non-Convertible Debentures up to an amount of Rs 3800 crs. and

- short term Non-Convertible Debentures up to an amount of Rs 3000 crs. subject to a limit of Rs 1200 crs. of debentures outstanding at any point in time.

Source : Equity Bulls

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