MUMBAI, May 3 (Reuters) - India's Reliance Retail
Ventures plans to raise funds by selling commercial papers
maturing in three months, three merchant bankers said on
Wednesday.
The company, a unit of conglomerate Reliance Industries,
will offer a yield of 7.20% on the issue and has received
commitments worth around 35 billion Indian rupees ($427.93
million) so far, according to the merchant bankers.
The notes are rated A1+ by Crisil and will mature on July
31.
($1 = 81.7900 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
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