($1 = 82.7540 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil )
MUMBAI, Feb 21 (Reuters) - India's Pilani Investments
and Industries Corp plans to raise funds by selling commercial
papers maturing in one year, three merchant bankers said on
Tuesday.
The company will offer a yield of 8.80% on the issue and has
received commitments worth around 1 billion rupees ($12.08
million), according to the bankers.
The notes are rated A1+ by CARE Ratings and the terms of the
deal were set on Monday.
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