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IIFL Holdings to raise 20B rupees in debenture issuance

IIFL HoldingsLtd. plans to raise up to 20 billion Indian rupees through theissuance of nonconvertible debentures via a private placement.

The plan was approved by the IIFL's board, but remains subjectto approval from members at the annual general meeting.

As of May 5, US$1 wasequivalent to 66.56 Indian rupees.