India New Issue-Crest Ventures to issue over 1-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 10 (Reuters) - India's Crest Ventures Ltd plans to raise at least 750 million rupees ($9.1 million) through bonds maturing in one year and three months, two merchant bankers said on Friday. The company will pay a coupon of 12% on this bond issue, for which it has invited bids from investors and bankers on Thursday, they said. The issue also has a greenshoe option to retain an additional subscription of 250 million rupees. The bonds are rated BBB by Care and will mature in June 2024.


($1 = 82.1050 Indian rupees) (Reporting by Bhakti Tambe; Editing by Varun H K)

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