India New Issue-Godrej Industries accepts bids for multiple tenor bonds - bankers

Godrej Industries

28/02/2024 02:53

MUMBAI, Feb 28 (Reuters) - India's Godrej Industries  GODI.NS  has accepted bids worth
10 billion rupees ($120.7 million) for bonds maturing in two years and six months, and another
in three years and six months, three bankers said on Wednesday.
    The company will pay an annual coupon of 8.36% and 8.40% to investors of this issue, and had
invited bids on Tuesday, they said.
    In September, Godrej Industries raised 4 billion rupees through bonds maturing in three
years and five months at a coupon of 8.29%.
    
 
   Here is the list of deals reported so far on Feb. 28: 
             Issuer                                                            
                         Tenure        Coupon (in %)  Issue size (in           Rating
                                                      bln rupees)*    Bidding  
                                                                      date     
                                                                               
                                                                               
 Godrej Industries       2 years and   8.36           5               Feb. 27  AA (Crisil,
                         6 months                                              Icra)
 Godrej Industries       3 years and   8.40           5               Feb. 27  AA (Crisil,
                         6 months                                              Icra)
             Axis        2 years       8.35           3               Feb. 27  AAA (Crisil,
 Finance                                                                       India Ratings)
                                                                               
 Axis Finance Feb 2027   3 years       8.35 (yield)   3               Feb. 27  AAA (Crisil,
 reissue                                                                       India Ratings)
                         5 years       8.65           10              Feb. 27  AA+ (Icra)
 Cholamandalam                                                                 
 Investment and Finance                                                        
                                                                               
 
 * Size includes base plus greenshoe for some issues

($1 = 82.8820 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))