India New Issue-Redington (India) to issue 1-month CP - traders

Redington

14/11/2022 10:12

MUMBAI, Nov 14 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds selling commercial papers maturing in one
month, three merchant bankers said on Monday.
    The company, India's biggest Apple and IT products
distributor, will offer a yield of 6.80% on this issue and has
received commitments worth about 3.50 billion Indian rupees
($43.10 million) so far, the bankers said.
    The notes are rated A1+ by ICRA.
 
 ($1 = 81.2080 Indian rupees)
 (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)
 ((Dharamraj.dhutia@tr.com))