($1 = 82.5730 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, March 2 (Reuters) - Small Industries Development
Bank of India has withdrawn its planned issue of bonds maturing
in three years and one month, five merchant bankers said on
Thursday.
The state-run financial institution had invited coupon and
commitment bids from bankers and investors earlier in the day,
with an aim to raise at least 10 billion rupees ($121.10
million).
"SIDBI decided to scrap the issue as bids received were
sharply higher than what the company was willing to pay," said
one of the merchant bankers.
The cutoff for the base size of 10 billion rupees would have
been 7.99%, bankers added.
In January, SIDBI raised 50 billion rupees through bonds
maturing in three years and one month at a coupon of 7.59%.
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