MUMBAI, April 24 (Reuters) - India's Mahindra and Mahindra Financial Services plans to raise 42 billion Indian rupees ($512.86 million) selling two sets of separately transferable redeemable principal part (STRPP) bonds, three merchant bankers said on Monday. The first set of STRPP bonds will mature in two years and four years, and the second in two years and two months and four years and two months. The company aims to raise 21 billion rupees via each option and has invited bids from bankers and investors on Wednesday, they said. The notes are rated AAA by Crisil, and the issue will be settled later this week. Earlier this month, the company raised 6.82 billion rupees selling bonds maturing in three years and one month at an annual coupon of 8.25%. ($1 = 81.8930 Indian rupees) (Reporting by Dharamraj Dhutia Editing by Shinjini Ganguli) ((Dharamraj.dhutia@tr.com))
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