India New Issue-Redington (India) to issue 3-month CP - traders

Redington

10/03/2023 07:36

MUMBAI, March 10 (Reuters) - Redington (India)  REDI.NS 
plans to raise funds by selling commercial papers maturing in
three months, three merchant bankers said on Friday. 
    The company will offer a yield of 7.75% on the issue and has
received commitments worth about 1 billion rupees  ($12.2
million) so far, the bankers said.
    The notes are rated A1+ by ICRA.


($1 = 82.0700 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))