MUMBAI, March 2 (Reuters) - India's Aditya Birla Finance
plans to raise at least 2 billion rupees ($24.24 million)
through the sale of bonds maturing in five years, three merchant
bankers said on Thursday.
The non-banking finance company will pay an annual coupon of
8.12% on the issue, and has invited bids from bankers and
investors on Friday, they said.
The bonds are rated AAA by ICRA and the issue will be
settled next week.
The issue has a greenshoe option to retain an additional
5.50 billion rupees.
In February, the company had raised aggregate of 2.55
billion rupees via reissuance of 8.90% June 2025 bonds and 8.12%
November 2032 bonds at 7.98% and 8.05% yield.
($1 = 82.4920 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
