Titan Industries Ltd has informed that a meeting of the Board of Directors of the Company will be held on December 23, 2008, to consider and approve possible issue of,Secured, Redeemable, Non-Convertible Debentures on a Private Placement Basis aggregating to Rs 50 crores to Life Insurance Corporation of India.The highlights and terms of the proposed Issue are as follows.
Amount : Rs 50 crores
Face value : Rs 500 per debenture
No of Debentures : 10,00,000 nos
Rate of Interest : 12.75% p.a., payable annually
Duration : 5 years
Redemption : Bullet redemption at the end of 5 years from the date of allotment.
Amount : Rs 50 crores
Face value : Rs 500 per debenture
No of Debentures : 10,00,000 nos
Rate of Interest : 12.75% p.a., payable annually
Duration : 5 years
Redemption : Bullet redemption at the end of 5 years from the date of allotment.
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