Cholamandalam DBS Finance to raise funds

Cholamandalam DBS Finance Ltd has announced that the Board of Directors of the Company at its meeting held on July 30, 2008, inter alia, has approved the revised business plan of the Company for the Financial year 2008-2009.

Issue of secured medium term non-convertible debentures up to an amount of Rs. 4600 crs on Private Placement basis to various investors like Mutual Funds/ Institutions/ banks/ Bodies corporate of other agencies.

Issue of unsecured non-convertible debentures in the nature of subordinated debt up to an amount of Rs 400 crs on private placement basis to one or more investors and subject to the approval of the shareholders at the ensuing Annual General meeting, issue of redeemable cumulative preference shares of Rs 100/- each aggregating to Rs 100/- crs on private placement basis to persons including promoters/ institutions/ banks/ bodies corporate/ mutual funds/ individuals and other agencies.

Source : Equity Bulls

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