($1 = 82.7600 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
By Dharamraj Dhutia
MUMBAI, Feb 17 (Reuters) - India Infrastructure Finance
Co is aiming to raise 25 billion rupees (about $302
million) later this month by tapping the bond market after a gap
of nearly a year, two merchant bankers said on Friday.
The company is likely to raise funds via the sale of 10-year
bonds, which are rated AAA by India Ratings and ICRA, the
bankers said.
IIFCL did not immediately reply to a Reuters email seeking
comment on the sale, which has not been officially announced.
The company made an appearance in the privately placed
corporate bond market in March 2022, after a hiatus of eight
years.
"It had the approval for 40 billion rupees. But, since last
year their requirement was less, they did not go for the full
amount and will be raising it now," one of the bankers said.
IIFCL had raised 15 billion rupees through the sale of
10-year bonds at an annual coupon of 7.17%.
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