The Indian Hotels Company Limited approved raising of funds by way of issuance of rated, unsecured, listed, redeemable, non-convertible debentures of face value of INR 1,000,000 aggregating to INR 3,000,000,000 by way of private placement, to ICICI Bank Limited ("NCDs"). The NCDs are proposed to be listed on the wholesale debt market segment of National Stock Exchange of India Limited and the tenor of the instrument is 3 (three) years from the deemed date of allotment.