India's largest real estate investment trust plans to raise 16 billion rupees ($181.09 million) through the sale of its debut three-year bonds, three merchant bankers said on Tuesday.
Knowledge Realty Trust NSE:KRT.RR will pay a coupon of 7.20% on this issue, and this would be payable on a quarterly basis, the traders said.
Large mutual funds are acting as anchor investors, and the company has invited bids on Thursday.
Officials from the trust, currently backed by Blackstone and Sattva Developers, told Reuters in July that it plans to raise an aggregate of 120 billion rupees.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on September 23:
Issuer
Knowledge Realty Trust
Tenure
3 years
Coupon (in %)
7.20 (quarterly)
Issue size (in bln rupees)*
16
Bidding date
September 25
Rating
AAA (Crisil, ICRA)
*Size includes base plus greenshoe for some issues
($1 = 88.3530 Indian rupees)