India New Issue-Poonawalla Fincorp to issue 2-year bonds, bankers say

Poonawalla Fincorp

04/04/2024 03:49

MUMBAI, April 4 (Reuters) - India's Poonawalla Fincorp  POON.NS  plans to raise 4.50
billion rupees ($53.90 million), which includes a greenshoe option of 3.75 billion rupees
through the sale of bonds maturing in two years, two merchant bankers said on Thursday.
    The company will pay a coupon of 8.32% and has invited bids from investors and bankers on
Friday, the bankers said.
    
 
 Here is the list of deals reported so far on April 4: 
                                                                        
 Issuer       Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                           bln rupees)*    date         
                                                                        
 Poonawalla        2 years           8.32     0.75 + 3.75  April 5      AAA (Crisil,
 Fincorp                                                                Careedge)
 
*Size includes base plus greenshoe for some issues



($1 = 83.4890 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))