The bonds are rated AA- by CARE Ratings and will mature from
June 2024 to March 2026.
($1 = 81.7560 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by)
MUMBAI, May 4 (Reuters) - India's Gera Developments
plans to raise 2 billion rupees ($24.46 million) through sale of
bonds maturing in one-year, one-month and 15 days to two-year,
10-month and 15 days, three merchant bankers said on Thursday.
The company aims to raise 250 million rupees each through
eight-part bond issue and will pay a semi-annual coupon of 9.60%
on each option, they said.
It has invited commitment bids from bankers and investors on
May 8, and the issue will be settled next week.
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