Grasim Industries accepts bids for 5-year bonds - traders

India's Grasim Industries GRASIM has accepted bids worth 10 billion rupees ($122.80 million) for bonds maturing in five years, three merchant bankers said on Wednesday.

The Aditya Birla group-owned company will pay an annual coupon of 7.63% to the investors of this issue, and had invited commitment bids earlier in the day, they said.

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

In June, the company had raised 10 billion rupees through the sale of five-year bonds at 7.50% coupon.

($1 = 81.4325 Indian rupees)

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