KOLTE-PATIL DEVELOPERS LTD. - Outcome of Board Meeting

Kolte-Patil Developers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 11, 2014, has allotted 400 "12.25% Secured Redeemable Taxable Non-Convertible Debentures Series I" having face value of Rs. 10,00,000/- each aggregating to Rs. 40,00,00,000/- (Rupees Forty Crores) through private placement.