($1 = 82.2920 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
MUMBAI, March 27 (Reuters) - India's Asirvad Micro
Finance Ltd plans to raise at least 250 million rupees
($3 million) through the sale of bonds maturing in six years,
two merchant bankers said on Monday.
The non-banking financial company will pay an annual coupon
of 11.25% on this issue and has invited bids from bankers and
investors on Wednesday, they said.
The notes of the company are rated AA- by CRISIL and will be
settled on Friday.
The issue has a greenshoe option to retain an additional 750
million rupees.
In September, the company raised one billion rupees via the
sale of bonds maturing in six years at an annual coupon of
11.25%.
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