India New Issue-Indiabulls Commercial Credit to raise funds via public issue

Edelweiss Financial Services

06/01/2023 05:12

MUMBAI, Jan 6 (Reuters) - Indiabulls Commercial Credit
plans to raise at least 1 billion rupees ($12.10 million)
through a public issue of non-convertible debentures, according
to a product note.
    The issue opened for subscription on Thursday and will close
on Jan. 27. The issue also has a greenshoe option to retain an
oversubscription of up to 1 billion rupees.
    The company is offering bonds maturing in 24 months, 36
months and 60 months at an annual coupon in the range of
9.40%-9.80% for institutional investors.
    Edelweiss Financial Services, Elara Capital (India) and
Trust Investment Advisors are the lead manager for the bond
issue, rated AA by CRISIL and ICRA.
($1 = 82.6230 Indian rupees)
 (Reporting by Bhakti Tambe; Editing by Sohini Goswami)
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