MUMBAI, April 10 (Reuters) - India's NTPC Ltd plans to raise at least 5 billion rupees ($61.1 million) through
the sale of bonds maturing in three years, three merchant
bankers said on Monday.
The state-run company has invited bids from investors and
bankers for the issue on Wednesday. Bidding will take place on
the National Stock Exchange's electronic bidding platform
between 10:00 a.m. IST and 11:00 a.m. IST, they said.
The issue also has a greenshoe option to retain an
additional subscription of 25 billion rupees.
The bonds are rated AAA by Crisil and ICRA, and the issue
will be settled on April 17.
This will be the first bond issue by NTPC in the current
financial year started April. In December, the company raised 5
billion rupees through bonds maturing in 10 years and four
months at a coupon of 7.44%.
Last week, Reuters reported that NTPC planned to issue bonds
maturing in three years and was likely to tap the market this
week.
($1 = 81.8950 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Varun H K)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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