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Indiabulls to issue 750M rupees of debentures

Indiabulls Real Estate Ltd. will issue 750.0 million Indian rupees of secured redeemable nonconvertible debentures through a private placement.

The issuance carries a 13-month tenor and will be in denominations of 1 million rupees each. The issue opening date is expected to take place June 8.

The debentures will be issued on the Bombay stock exchange.

As of June 6, US$1 was equivalent to 64.44 India rupees.