by MUMBAI, Jan 24 (Reuters) – India’s Kotak Mahindra Investments plans to elevate at the least 750 million rupees ($9.19 million) by way of two bonds, one maturing in April 2026 and the opposite in May 2026, three service provider bankers stated on Tuesday.
The firm has invited bids from service provider bankers and buyers for the issuances on Wednesday.
The issue of bonds maturing in April 2026 has a base dimension of 250 million rupees and a greenshoe to retain an oversubscription of 750 million rupees. The firm will provide a coupon of seven.99% on the issue.
The issue of zero-coupon bonds maturing in May 2026 has a base dimension of 500 million rupees and a greenshoe choice of two.5 billion rupees.
Both the bond issuances are rated AAA by CRISIL and the issue will shut for subscription later this week.
($1 = 81.6030 Indian rupees)
Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sohini Goswami
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