MUMBAI, March 21 (Reuters) - Small Industries
Development Bank of India (SIDBI) plans to raise funds by
selling commercial papers maturing in six months, three merchant
bankers said on Tuesday.
The state-run financial institution will offer a yield of
7.58% on the issue and has received commitments worth about 10
billion rupees ($121.09 million), the bankers said.
The notes are rated A1+ by CARE Ratings and will mature on
Sept. 20.
($1 = 82.5850 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Pooja Desai)
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