India New Issue-Piramal Enterprises to issue 2-year bonds - bankers

Piramal Enterprises

27/02/2024 03:01

MUMBAI, Feb 27 (Reuters) - India's Piramal Enterprises  PIRA.NS  plans to raise 6
billion rupees ($72.40 million), which will include 5 billion rupees of a greenshoe option
through sale of bonds maturing in two years, three merchant bankers said on Tuesday.
    The company will pay an annual coupon of 9.35% on this issue for which it has invited
commitment bids on Wednesday, they said. 

    
 
  Here is the list of deals reported so far on Feb. 27
                                                                                  Rating
 Issuer                       Coupon (in %)  Issue size (in           
                    Tenure                   bln rupees)*    Bidding  
                                                             date     
                                                                      
                                                                      
 Piramal             2 years  9.35           1+5             Feb. 28  AA (Careedge)
 Enterprises                                                          
                     6 years  To be decided  20              Feb. 28  AAA (Crisil)
 Sundaram Finance                                                     
                                                                      
             Axis    2 years  8.35           3+2             Feb. 27  AAA (Crisil, India
 Finance                                                              Ratings)
                                                                      
 Axis Finance Feb    3 years  To be decided  2+1             Feb. 27  AAA (Crisil, India
 2027 reissue                                                         Ratings)
                     5 years  To be decided               1  Mar. 1   AA+ (India Ratings,
 Vadodara                                                             AA (Crisil)
 Municipal Corp                                                       
                                                                      
 
* Size includes base plus greenshoe for some issues


   ($1 = 82.8680 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))