India New Issue-JM Financial ARC accepts bids for 3-year bonds - traders

JM Financial

03/02/2023 02:46

MUMBAI, Feb 3 (Reuters) - India's JM Financial ARC plans
to raise at least 500 million  rupees ($6.09 million) each
through sale of bonds maturing in two years and three months and
in two years and six months, two merchant bankers said on
Friday.
    The company has invited bids from bankers and investors for
both the issues on Feb. 6, they said. 
    The issues have a greenshoe option to retain an additional
1.25 billion rupees each and will close for subscription on
Tuesday.
    The notes are rated AA- by ICRA.
    Earlier this week, it had raised 4 billion rupees via sale
of bonds maturing in three years at a coupon of 10.21% on the
issue payable on a quarterly basis.
($1 = 82.0940 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Nivedita
Bhattacharjee)
 ((Dharamraj.dhutia@tr.com))