The bonds are rated AAA by CRISIL and CARE, and the issue will be settled on Friday. The issue had a base size of 10 billion rupees and a greenshoe option to retain an additional subscription of up to 40 billion rupees. DME Development is a special purpose vehicle created by NHAI in August 2020 for construction of the greenfield Delhi-Mumbai Expressway passing through the states of Delhi, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra. The proceeds of the proposed bond issue will be used to fund a part of the capex required in 2022/23 and 2023/24, Reuters reported earlier this month. ($1 = 82.8330 Indian rupees) (Reporting by Bhakti Tambe)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, Feb 22 (Reuters) - DME Development, a unit of
National Highways Authority of India (NHAI), has accepted bids
worth 36.84 billion rupees ($444.75 million) for bonds maturing
in 10 years, three merchant bankers said on Wednesday.
The company will pay a semi-annual coupon of 7.82% on this
issue, for which it had invited bids from investors and bankers
earlier in the day.
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