Financial institution of Maharashtra prone to difficulty maiden infra bonds to boost Rs 3,000 cr | Firm Information

India’s Financial institution of Maharashtra plans to boost as much as Rs 3,000 cr ($358.27 million), together with a greenshoe of Rs 2,500 cr, by way of its first difficulty of infrastructure bonds maturing in 10 years, three bankers stated.

The state-run financial institution has invited coupon and dedication bids for the difficulty on Thursday, they stated.

Earlier this month, the financial institution had raised Rs 1,000 cr by way of Basel III compliant tier II bonds maturing in 10 years at a coupon of seven.89 per cent.

Right here is the listing of offers reported thus far on July 30: Issuer Tenure Coupon (in per cent) Problem dimension (in Bidding Ranking bln rupees)* date Financial institution of 10 years To be determined 5+25 Aug 1 AA+ (ICRA, Maharashtra Careedge Rankings)

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