India New Issue-Grasim Industries accepts bids for 10-year bonds, bankers say

Grasim Industries

18/12/2024 08:28

MUMBAI, Dec 18 (Reuters) - India's Grasim Industries  GRAS.NS  has accepted bids worth
20 billion rupees ($235.5 million) for bonds maturing in 10 years, three merchant bankers said
on Wednesday.
    The company will pay an annual coupon of 7.21% on the issue and had invited bids from
bankers and investors earlier in the day, they said.
    Grasim Industries did not reply to a Reuters email seeking comment.
    
 
   Here is the list of deals reported so far on Dec. 18: 
                                                                         
 Issuer            Tenure        Coupon (in   Issue size (in             Rating
                                 %)           bln rupees)*     Bidding   
                                                               date      
                                                                         
                                                                         
 Grasim            10 years      7.21         20               Dec. 18   AAA (Crisil,
 Industries                                                              Icra)
                   10 years      7.74         30               Dec. 18   AA (Crisil,
 Punjab & Sind                                                           India Ratings)
 Bank                                                                    
                                                                         
                   10 years      8.03         10.40            Dec. 18   AAA (Crisil,
 ICICI Prudential                                                        Icra)
 Life Insurance                                                          
                                                                         
             HDB   2 years and   To be        5+5              Dec. 19   AAA (Crisil,
 Financial         11 months     decided                                 Care)
 Services                                                                
                                                                         
             LIC   2 years and   To be        6+20             Dec. 19   AAA (Crisil,
 Housing           2 months      decided                                 Icra)
 Feb 2027 reissue                                                        
                                                                         
                    3 years and        To be              5+5  Dec. 19   AAA (Crisil)
 Bajaj Housing         3 months      decided                             
 Finance                                                                 
                                                                         
     
    *Size includes base plus greenshoe for some issues


($1 = 84.9325 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)
 ((Dharamraj.dhutia@tr.com))