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Ramco Cements Ltd is likely to raise up to ₹500 crore through multiple maturity bonds, returning to the bond market after a year, three merchant bankers said on Thursday.
The cement manufacturing company is likely to invite bids for the proposed bond issue next week, they added.
Also read: Adani Group plans to raise ₹3,600 cr by selling cement co stake
Ramco is planning to raise ₹150 crore each through bonds maturing in four years, and four years and six months. It also plans to raise ₹200 crore through five-year bonds, according to the bankers.
The company is yet to announce the bond sale and did not immediately respond to a Reuters request for comment.
Also read: Cement demand set for third straight year of growth at 425 mt
Ramco last tapped the bond market in March 2022, when it raised ₹150 crore via five-year bonds at a coupon of 6.90% and ₹150 crore through bonds maturing in four years and 9 months at a 6.90% coupon.
The company's current outstanding bonds are rated AA+ by ICRA.
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