India New Issue-Sheela Foam to issue STRPP bonds - bankers

Sheela Foam

27/09/2023 12:16

MUMBAI, Sept 27 (Reuters) - India's Sheela Foam  SHEF.NS  plans to raise up to 7.25
billion rupees ($87.1 million) through a sale of separately transferable redeemable principal
part bonds maturing in 18 months to three years, two merchant bankers said on Wednesday.
    The foam and mattress manufacturer will pay a coupon of 8.45% and has invited bids from
bankers and investors on Oct. 5, they said. 

 Here is a list of deals reported so far on Sept. 27:
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 Sheela Foam        STRPP         8.45           7.25            Oct. 3       AA (India
                                                                              Ratings)
             Tata   9-yr          7.7150 (semi)  10              Sept. 27     AA (Crisil,
 Power                                                                        India Ratings)
                                                                              
             ICICI  10-yr         7.57           40              Sept. 27     AAA (Crisil,
 Bank                                                                         Icra, Care)
                                                                              
             Tata   10-yr         8.25           5.45            Sept. 26     AAA (Icra, India
 AIG General                                                                  Ratings)
 Insurance                                                                    
                                                                              
                         18 mnts          14.50            6.29  To be        A+ (Crisil)
 Edelweiss ARC                                                   decided      
                                                                              
 
* Size includes base plus greenshoe for some issues

($1 = 83.2049 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Dhanya Ann Thoppil)
 ((Dharamraj.dhutia@tr.com))