India New Issue-Spandana Sphoorty Financial accepts bids for 2-year bonds - bankers

Spandana Sphoorty Financial

17/03/2023 02:36

MUMBAI, March 17 (Reuters) - India's Spandana Sphoorty
Financial Ltd  SPAD.NS  has accepted bids worth 1.25 billion
rupees ($15.1 million) for bonds maturing in two years, two
merchant bankers said on Friday. 
    The company will pay a coupon of 10.50% on this issue and
had invited bids from investors and bankers on Thursday, they
said. 
    The bonds are rated A by India Ratings and the issue will be
settled later in the day. 
    In December, the company had raised an aggregate of 3
billion rupees for bonds maturing in two years and four months,
and in three years, both at an annual coupon of 11.35%.

($1 = 82.5870 Indian rupees)

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