By Bhakti Tambe
MUMBAI, March 16 (Reuters) - Power Grid Corp of India plans to raise up to 9 billion rupees ($108.89
million) through staggered redemption bonds maturing in 10
years, three merchant bankers said on Thursday.
The state-run company is likely to invite bids from bankers
and investors next week, they said. The company is yet to make
an official announcement of the planned bond sale on the
electronic bidding platforms.
Power Grid did not immediately respond to a Reuters request
for comment.
The bonds are rated AAA by CRISIL and ICRA. The issue will
settled later next week.
In February, the company had raised 21.20 billion rupees
through staggered redemption bonds maturing in 10 years at a
coupon of 7.40%.
($1 = 82.6550 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Janane Venkatraman)
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