India New Issue-Indostar Capital to issue multiple tenor bonds - bankers

IndoStar Capital Finance

20/03/2023 03:49

MUMBAI, March 20 (Reuters) - India's Indostar Capital
Finance  INAC.NS  plans to raise at least 2 billion rupees
($24.25 million) through two bonds, one maturing in September
2024 and other in March 2025, three merchant bankers said on
Monday. 
    The company has invited bids from bankers and investors for
both the bond issuances on Tuesday, they added. 
    The September 2024 bond issue has a base size of 1 billion
rupees and a greenshoe option to retain an additional
subscription of 4 billion rupees.
    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 = 82.4900 Indian rupees)

 (Reporting by Bhakti Tambe; editing by Eileen Soreng)
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