The company will pay an annual coupon of 9.35% on each issue and has invited bids from bankers and investors on Tuesday, they said. The bonds are rated AA- by CRISIL and the issues will be settled on Thursday. It aims to raise 500 million rupees through the smaller tenor bond, and 2.50 billion rupees via the three-year-and-six-month bonds, which also have a put option at the end of two years. In January, Arka Fincap raised 2 billion rupees selling bonds maturing in two years and two months at an annual coupon of 9.35%. ($1 = 82.5200 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
MUMBAI, March 20 (Reuters) - India's Arka Fincap plans
to raise 3 billion rupees ($36.35 million) by selling bonds
maturing in two years and in three years and six months, three
merchant bankers said on Monday.
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