MUMBAI, April 26 (Reuters) - India's Shriram Finance Ltd plans to raise at least 2.50 billion rupees ($30.5
million) through sale of bonds maturing in five years, three
merchant bankers said on Wednesday.
The non-banking finance company will pay an annual coupon of
8.75%, and has invited bids from bankers and investors on
Thursday, they said.
The bonds are rated AA+ by Crisil and the issue will be
settled on Friday.
The issue has a greenshoe option to retain an additional 5
billion rupees.
Earlier this month, the company had raised an aggregate of
8.40 billion rupees via the reissue of 9.00% June 2024 bonds and
8.50% October 2032 bonds.
($1 = 81.9580 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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