MUMBAI (Reuters) – India’s UltraTech Cement Ltd plans to raise funds selling commercial papers maturing in three months, two merchant bankers said on Thursday.
The company will offer a yield of 5.88% on this issue, and has received commitments worth around 7.50 billion rupees ($94.60 million), they said.
The notes are rated A1+ by India Ratings.
($1 = 79.2850 Indian rupees)
(Reporting by Dharamraj Lalit Dhutia)
