India New Issue-Trust Investment Advisors to issue over 5-year bonds - bankers

MUMBAI, March 27 (Reuters) - India's Trust Investment Advisors plans to raise 500 million rupees ($6.07 million) through bonds maturing in five years and seven days, two merchant bankers said on Monday.

The company has invited bids for the issue from investors and bankers on Tuesday, they said. The issue also has a greenshoe option to retain an additional subscription of 1.25 billion rupees.

The bonds are provisionally rated AA+ by Acuite Ratings. In January, the company had raised 850 million rupees through bonds maturing in seven years at an annual coupon of 8.90%.

($1 = 82.3500 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sohini Goswami)

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India New Issue-Trust Investment Advisors to issue over 5-year bonds - bankers

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