MUMBAI (Reuters) – Small Industries Development Bank of India, or SIDBI, plans to raise funds selling commercial paper maturing in seven months, three merchant bankers said on Wednesday.
The state-run financial institution will offer a yield of 6.20% on this issue, and has received commitments worth around 12 billion rupees ($151.94 million), the bankers said.
The notes rated A1+ by CARE Ratings and India Ratings and the issue will mature on Mar. 10.
($1 = 78.9800 Indian rupees)
(Reporting by Dharamraj Lalit Dhutia; Editing by Vidya Ranganathan)
