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Salem Erode Investments Limited has announced a board meeting and approved a private placement of 5,500 unlisted secured redeemable non-convertible debentures worth Rs. 55 lakh. These debentures will have tenures of 36 and 68 months with monthly or cumulative interest payout options. The monthly scheme offers a 12% coupon rate. The debentures are fully secured against current assets, loans, advances, and unencumbered assets excluding fixed assets, with a minimum security cover of 100%. Redemption will occur at maturity unless the put option is exercised earlier under specified terms.