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KRT Knowledge Realty Trust News Story

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India New Issue-Knowledge Realty Trust accepts bids for bond issue, bankers say

MUMBAI, Sept 25 (Reuters) - Knowledge Realty Trust KNOE.NS, India's largest real estate investment trust, has accepted bids worth 16 billion rupees ($180.5 million) for its debut three-year bonds, three merchant bankers said on Thursday.

The company will pay a coupon of 7.20% on this issue, which will be payable on a quarterly basis, they said.

Large mutual funds are acting as anchor investors. The company had invited bids from bankers and investors earlier in the day.

Knowledge Realty did not reply to a Reuters email seeking comment.

  Here is the list of deals reported so far on September 25:

IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
Knowledge Realty Trust3 years7.20 (quarterly)16September 25AAA (Crisil, ICRA)
Solar Energy Corp10 years7.146September 25AAA (Care, ICRA)
*Size includes base plus greenshoe for some issues ($1 = 88.6610 Indian rupees) (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema) ((Dharamraj.dhutia@tr.com))

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