India New Issue-Piramal Enterprises to issue over 3-year bonds - traders

CARE Ratings

08/03/2023 02:46

MUMBAI, March 8 (Reuters) - India's Piramal Enterprises
 PIRA.NS  plans to raise at least 1 billion rupees ($12.18
million) through sale of bonds maturing in three years and two
months, three merchant bankers said on Wednesday. 
    The company will pay an annual coupon of 8.75% on this
issue, and has invited commitment bids between 11 a.m. IST and
12 p.m. IST on Thursday, they said.
    The bonds are rated AA by CARE Ratings and the issue will be
settled on Friday. 
    The issue has a greenshoe option to retain an additional 5
billion rupees and will mature in May 2026. 

    ($1 = 82.0740 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry
Jacob-Phillips;)
 ((Dharamraj.dhutia@tr.com))