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India's Navi Finserv plans to raise up to ₹ five billion ($61.05 million) through the public issue of non-convertible debentures, two merchant bankers said on Tuesday.
The non-bank financier's public issue will open for subscription on Monday and will close on July 21, they said
The issue has a base size and greenshoe option of 2.5 billion each.
The company is offering bonds maturing in 18 months, 27 months, and 36 months at an annual yield in the 10.78 per cent to 11.01 per cent range for investors. These notes are rated A by CRISIL and India Ratings.
JM Financial is the lead manager for the bond issue. ($1 = ₹81.905)
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