off-the-wire

India New Issue-Indostar Capital to issue multiple tenor bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 20 (Reuters) - India's Indostar Capital Finance plans to raise at least 2 billion rupees ($24.25 million) through two bonds, one maturing in September 2024 and other in March 2025, three merchant bankers said on Monday.


The company has invited bids from bankers and investors for both the bond issuances on Tuesday, they added.


The September 2024 bond issue has a base size of 1 billion rupees and a greenshoe option to retain an additional subscription of 4 billion rupees. The bonds are rated AA- by CRISIL and the issue will be settled later this week.


In December, the company raised 3.72 billion rupees through multiple tenor bonds.


($1 = 82.4900 Indian rupees) (Reporting by Bhakti Tambe; editing by Eileen Soreng)

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