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

Redington

21/03/2023 14:18

MUMBAI, March 21 (Reuters) - India's Redington Ltd
 REDI.NS  plans to raise funds through a sale of commercial
papers maturing in three months, three merchant bankers said on
Tuesday.
    The information technology company will offer a yield of
7.72% on the issue and has received commitments worth about 2
billion Indian rupees ($24.22 million) so far, the bankers said.
    The notes are rated A1+ by ICRA.

($1 = 82.5760 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Shweta Agarwal)
 ((Dharamraj.dhutia@tr.com))