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JM Financial Products accepts bids for 30-month bonds - traders

India's JM Financial Products has accepted bids worth 2.50 billion rupees ($30.70 million) for bonds maturing in 30 months, three merchant bankers said on Wednesday.

The company will pay an annual coupon of 8.50% on this issue and had invited commitment bids from bankers and investors earlier in the day, they said.

The bonds are rated AA by CRISIL and ICRA, and the issue will close for subscription on Thursday.

The issue will mature in June 2025.

Earlier this month, the company had raised 1.75 billion rupees via similar maturity bonds at an annual coupon of 8.50%.

($1 = 81.4300 Indian rupees)

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