India New Issue-Indostar Capital accepts bids for multiple tenor bonds - bankers

IndoStar Capital Finance

21/03/2023 13:36

MUMBAI, March 21 (Reuters) - India's Indostar Capital
Finance  INAC.NS  has accepted bids worth an aggregate of 5
billion Indian rupees ($60.54 million)for bonds maturing in 18
months and in two years, three merchant bankers said on Tuesday.
    The company will pay an annual coupon of 9.95% for this
issue, and had invited bids from bankers and investors earlier
in the day, they added.
    The bonds are rated "AA-" by CRISIL and the issue will be
settled later this week.
    In December, the company raised 3.72 billion rupees through
multiple tenor bonds.

($1 = 82.5960 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Maju Samuel)
 ((Dharamraj.dhutia@tr.com))