India New Issue-IndoStar Capital accepts bids for multiple tenor bonds -traders

IndoStar Capital Finance

28/12/2022 09:59

MUMBAI, Dec 28 (Reuters) - India's IndoStar Capital
Finance  INAC.NS  has accepted bids worth an aggregate of 3.72
billion rupees ($44.9 million) for multiple tenor bonds, two
merchant bankers said on Wednesday.
    The non-banking finance company has accepted bids worth 920
million rupees for one-year bonds and worth 400 million rupees
each for 15- and 18-month bonds.
    It has also raised 1.08 billion rupees from 21-month bonds
and 920 million rupees from two-year notes, the bankers added.
    IndoStar will pay an annual coupon of 9.95% on all the
options, and had invited commitment bids earlier in the day.
    The bonds are rated AA- by CRISIL and the issues will close
for subscription on Thursday.
($1 = 82.8475 Indian rupees)
 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))