India New Issue-Indostar Capital Finance raises 7 bln rupees via bonds - bankers

IndoStar Capital Finance

30/06/2023 07:23

MUMBAI, June 30 (Reuters) - India's IndoStar Capital Finance  INAC.NS  raised 7 billion
rupees ($85.3 million) through the sale of bonds maturing in 21 months and in two years, three
merchant bankers said on Friday.
    It had invited bids from bankers and investors on Wednesday. In May, the company raised 2.55
billion rupees through sale of two bonds, one maturing in three years and 10 days and the other
in two years at 10.25% and 9.95% coupons respectively.


    
 Below is the list of deals reported so far on June 30
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                                bln rupees)*    date         
                                                                             
 IndoStar Capital  21 mnts       9.95           3.5             June 28      AA-
 Finance                                                                     (Crisil)
 IndoStar Capital  2-yr          9.95           3.5             June 28      AA-
 Finance                                                                     (Crisil)
 HDB Financial     3-yr          8.18           4               June 28      AAA
 Services                                                                    (Crisil)
 HDB Financial     3-yr and 2    8.04 (yield)   5.95            June 28      AAA
 Services Sept     mnts                                                      (Crisil)
 2026 reissue                                                                
 
*Size includes base plus greenshoe for some issuances


($1 = 82.0420 Indian rupees)

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