($1 = 82.8800 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, March 16 (Reuters) - India's HDB Financial Services
plans to raise funds through the sale of bonds maturing in three
years and one month, and zero-coupon bonds maturing in five
years, three merchant bankers said on Thursday.
The non-banking financial company aims to raise at least 6
billion rupees ($72.4 million) through the over three-year
bonds, which will have a greenshoe option to retain an
additional 1 billion rupees.
HDB Financial aims to raise at least 3.70 billion rupees
through the zero-coupon bonds, with a greenshoe option to retain
an additional 500 million rupees.
It has invited bids for both the bond issues on Friday.
The bonds are rated AAA by CRISIL and CARE Ratings and will
be settled next week.
In February, the company raised 2.44 billion rupees selling
bonds maturing in three years and two months at an annual coupon
of 8.0736%.
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