India New Issue-JK Cement to issue 5-year bonds - bankers

MUMBAI, March 17 (Reuters) - India's JK Cement plans to raise 1 billion rupees ($12.12 million) through bonds maturing in five years, two merchant bankers said on Friday.

The company has invited bids from bankers and investors for the issue on Monday, they said.

The bonds are rated AA+ by CARE and the issue will be settled on Tuesday. ($1 = 82.5175 Indian rupees) (Reporting by Bhakti Tambe; Editing by Janane Venkatraman)

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India New Issue-JK Cement to issue 5-year bonds - bankers

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