off-the-wire

India New Issue-Kotak Mahindra Prime to reissue July 2025 bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 28 (Reuters) - India's Kotak Mahindra Prime plans to raise at least 1.50 billion rupees ($18.33 million) through the reissue of 7.8376% July 2025 bonds, three merchant bankers said on Friday. The company has invited bids from bankers and investors for the same on Wednesday, they said. The bonds are rated AAA by Crisil and the issue will be settled next week.


The issue has a greenshoe option to retain an additional 1.50 billion rupees.


Earlier this month, the company raised 3.25 billion rupees on an aggregate basis via the reissue of 7.8815% February 2026 bonds and 8.25% June 2025 bonds.


($1 = 81.8300 Indian rupees) (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Sohini Goswami)

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