Debentures are categorized based on various characteristics, such as security, convertibility, and redemption. Secured debentures are backed by collateral, while unsecured debentures rely on the issuer's creditworthiness. Convertible debentures can be transformed into equity shares, while non-convertible debentures cannot. Additionally, redeemable debentures have a fixed maturity date for repayment, whereas irredeemable debentures do not have a set repayment term.
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