Zuari Agro Chemicals Limited has considered and approved the proposal for issue of up to 1,250 (One Thousand Two Hundred and Fifty) secured, unrated, unlisted, redeemable, non-convertible debentures denominated in Indian Rupees of a face value of INR 1,000,000/- (Indian Rupees Ten Lakhs) each aggregating up to INR 1,250,000,000 in one or more tranches, on private placement basis. The Board has also approved the raising of funds by way of issuance of non-convertible debentures up to INR 5,000 million in one or more tranches, in future as and when deemed fit.