off-the-wire

India New Issue--Ecap Equities accepts bids for multiple tenor bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 23 (Reuters) - India's Ecap Equities has accepted bids worth 803 million rupees ($9.76 million) for zero-coupon bonds maturing in three years, and in three years and 11 months, two merchant bankers said on Thursday. The company had invited bids for both the bond issues earlier in the day.


It raised 422 million rupees through bonds maturing in three years at a yield of 11.89% and 381 million rupees through bonds maturing in three years and 11 months at a yield of 11.94%.


The bonds are rated AA by CRISIL, and the issues will be settled on Friday. Earlier this month, the company had raised an aggregate 468 million rupees selling zero-coupon bonds, one maturing in April 2026 and the other in February 2027 at yields of 12.06% and 12.13%, respectively. ($1 = 82.2350 Indian rupees) (Reporting by Bhakti Tambe; Editing by Dhanya Ann Thoppil)

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