India New Issue-Shriram Pistons accepts bids for multiple-tenor bonds, bankers say

SPR Auto Technologies

20/02/2026 07:42

MUMBAI, Feb 20 (Reuters) - India's Shriram Pistons and Rings has accepted bids worth 10 billion rupees ($109.94 million) through sale of bonds maturing in 18 months and in two years, three merchant bankers said on Friday.

The company will offer a coupon of 7.30% and 7.35% on these issues, respectively, and the coupon would be payable quarterly.

It had invited bids earlier in the day. The coupon would be raised by 25 basis points for every rating downgrade, bankers said.

The company did not reply to a Reuters email seeking comment.

 Here is the list of deals reported so far on February 20:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Shriram Pistons
18 months
7.30 (quarterly)
5
February 20
AA+ (India Ratings)
Shriram Pistons
2 years
7.35 (quarterly)
5
February 20
AA+ (India Ratings)

*Size includes base plus greenshoe for some issues

($1 = 90.9600 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

 ((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))