The issue, which also includes a greenshoe option to retain an oversubscription of INR 9 billion, will open for subscription on Friday and close on January 18th.
The company is offering bonds with maturities of two, three, and five years at annual coupons ranging from 8.50% to 9% for investors. Equirus Capital, Edelweiss, Trust Investment Advisors, and IIFL Securities are serving as lead managers for the bond issue, which has been rated AA by CRISIL and ICRA.
Expected Uptick in Public Issues for Fundraising in 2023
As retail investors seek out attractive interest rates and companies look to diversify their funding sources amid tightening liquidity conditions, fundraising through public issues is expected to see an increase in 2023.
