India New Issue-India Grid Trust to issue over 2-year bonds, bankers say

ICRA

20/06/2024 03:41

MUMBAI, June 20 (Reuters) - India Grid Trust  IGTR.NS  plans to raise 6.50 billion
rupees ($77.91 million), which includes a greenshoe option of 3 billion rupees, through the sale
of bonds maturing in two years and eight months, three bankers said on Friday.
    It will pay a coupon of 7.87%, payable on a quarterly basis, and has invited bids for the
issue on Friday, the bankers said.
    
 
   Here is the list of deals reported so far on June 20: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                bln rupees)*    date         
                                                                             
 India Grid Trust  2 years and   7.87           3.5+3           June 21      AAA (Crisil,
                   8 months      (quarterly)                                 Icra)
                   3 years       To be decided  5               June 20      AAA (Icra)
 Kotak Mahindra                                                              
 Prime                                                                       
                                                                             
             NIIF   5 years and           8.07               5  June 20      AAA (ICRA,
 Infra Finance         2 months                                              Careedge)
                                                                             
 
*Size includes base plus greenshoe for some issues




($1 = 83.4340 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))