India New Issue-Shriram Pistons to issue multiple maturity bonds, bankers say

SPR Auto Technologies

18/02/2026 02:55

MUMBAI, Feb 18 (Reuters) - India's Shriram Pistons and Rings is planning to raise 10 billion Indian rupees ($110.34 million) through sale of bonds maturing in 18 months and in two years, two merchant bankers said on Wednesday.

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

It has invited bids for the issue on Friday, and the coupon would be stepped up by 25 bps for every notch of rating downgrade.

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

 Here is the list of deals reported so far on February 18:

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 = 90.6270 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Ronojoy Mazumdar)

 ((Dharamraj.dhutia@tr.com))