The issues have a greenshoe option to retain an additional 1.25 billion rupees each and will close for subscription on Tuesday. The notes are rated AA- by ICRA. Earlier this week, it had raised 4 billion rupees via sale of bonds maturing in three years at a coupon of 10.21% on the issue payable on a quarterly basis. ($1 = 82.0940 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
(Corrects headline to say co to issue multiple tenor bonds, not
accepts bids for 3-year bonds)
MUMBAI, Feb 3 (Reuters) - India's JM Financial ARC plans
to raise at least 500 million rupees ($6.09 million) each
through sale of bonds maturing in two years and three months and
in two years and six months, two merchant bankers said on
Friday.
The company has invited bids from bankers and investors for
both the issues on Feb. 6, they said.
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