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Sundaram Home Finance plans to raise ₹250 crore ($31.30 million) through issuance of bonds maturing in three years, three merchant bankers said on Tuesday.
The non-banking financial company will pay an annual coupon of 7.55 per cent on the issue, and has invited bids from bankers and investors on Thursday, the bankers said.
The bonds are rated AAA by ICRA and the issue will close for subscription on Friday.
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