Mumbai, March 23 The state-run Indian Bank announced on Monday that it had raised ₹5,000 crore through a 10-year long-term infrastructure bond issue at a coupon rate of 7.15 per cent.
The lender received two bids for a total amount of ₹3,100 crore at a 7.13 per cent coupon, two bids each for a total value of ₹4,100 crore and ₹5,050 crore, at coupon rates of 7.14 per cent and 7.15 per cent, respectively, according to market sources.
Additionally, the bank received one bid for a total amount of ₹5,075 crore, market participants added.
The bank aimed to raise ₹5,000 crore, including ₹3,000 crore under the greenshoe option.
The bonds have been rated 'AAA' with a 'Stable' outlook by CARE and CRISIL.
The payment and allotment of the bonds will take place on March 24.
Payment refers to the date when investors and the issuer exchange bonds and money.
