MUMBAI, May 9 (Reuters) - India's National Bank for
Agriculture and Rural Development (NABARD) plans to raise at
least 20 billion rupees ($244.56 million) through bonds maturing
in three years, three months and 19 days, three merchant bankers
said on Tuesday.
The state-run company has invited bids from investors and
bankers for the bond issue on Thursday. Bidding will take place
on the Bombay Stock Exchange's electronic platform, they said.
The issue has a greenshoe option to retain an additional
subscription of up to 30 billion rupees.
The bonds are rated AAA by CRISIL and ICRA and the issue
will be settled on Friday.
In April, NABARD raised 49.23 billion rupees via reissue of
7.58% July 2026 bonds at a yield of 7.56%.
($1 = 81.7800 Indian rupees)
(Reporting by Bhakti Tambe; Editing by Sohini Goswami)
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